1


                                                                      EXHIBIT 21


                                CABOT CORPORATION

                            Significant Subsidiaries

                            As of September 30, 1997


                                                       Jurisdiction of
Name                                                   Incorporation
- ----                                                   -------------
Cabot B.V.                                             The Netherlands
Cabot Carbon Limited                                   England
Cabot G.B. Limited                                     England
Cabot International Capital Corporation                Delaware