EXHIBIT 12

                 CABOT CORPORATION AND CONSOLIDATED SUBSIDIARIES

  STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES
                      (Amounts in millions, except ratios)



                                                                Years ended September 30
                                                            2005    2004   2003   2002   2001
                                                            ----    ----   ----   ----   ----
                                                                          
Earnings (Loss):
   Pre-tax income (loss) from continuing operations         $(93)   $164   $ 94   $134   $150
   Distributed income of affiliated companies                  3       2      3      3     11
   Add fixed charges:
     Interest on indebtedness                                 29      30     28     28     32
     Portion of rents representative of the interest
       factor                                                  3       3      4      4      4
     Preferred stock dividend                                  3       3      3      3      3

Income (loss) as adjusted                                   $(55)   $202   $132   $172   $200

Fixed charges:
   Interest on indebtedness                                 $ 29    $ 30   $ 28   $ 28   $ 32
   Capitalized interest                                        2      --     --      2      1
   Portion of rents representative of the interest factor      3       3      4      4      4
   Preferred stock dividend                                    3       3      3      3      3

Total fixed charges                                         $ 37    $ 36   $ 35   $ 37   $ 40

Ration of earnings (loss) to fixed charges                    (1)      6      4      5      5