you, Good afternoon Thank ladies Steve. gentlemen. and
with share presenting pleased record XX% fiscal fiscal compared $X.XX our to XXXX. delivered very increase are earnings of XXXX as We we a per adjusted performance a
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you press now what seeing the important terms on all it commentary to and I me are give update dynamics Let of to here we is an Cabot. With China. of recent think the market the about turn on financial impact in China in
market in tire compounds specialty the It was into also in China. as tires to is This light slows. X% market Let’s the lead as first structurally range the silicones change first to three-key demand in the automotive, to world the and such industrial projected about inventory world's vehicle demand X% the and strong the of to year and segments, for economy few value the talk tire the of demand is global plastic and China largest OE country over some that rubber half produces some XX% second also dependent evident vehicle The which for overall. the Cabot. slowdown production carbon grow in China is products slowing builds. last is approximately months vehicle market means demand on and and largest the are future.
tire picture the as trends volumes replacement market as up commercial the demand replacement as Chinese market tire and high the On remains production. tire these hand for domestic to volume portion market make This miles supply light global linked other world. the XX% Chinese heavy globally export That’s overall vehicle of production view. China XX% in robust. of vehicle China well this all and of Thus are both tire driven trends replacement serves tires productions market over
let’s Cabot discuss Now position.
with relationships have and exposure material the product world-class Key position as leading sales have in tire We the index are tire multinational carbon three black and producing in true greater segment new companies with most China market reinforcement market. plants. China customer their OE in a vehicles. over leadership our Chinese to Multinational advanced offering to market manufacturers, in
tire With and an business. market positioned Chinese seen export. are we our our and broad we significant the replacement not manufacturers in While China for exposure market both have impact well to participation have on
has by fact China. In This our October X% for volumes fourth in continued increased quarter strength us. the in into
and the Cabot reliability, a product to As out commitment of continue tire our partner the supplier industry, companies quality seek to supplier preferred sustainability, because to as performance, service.
the temporary fundamentals specialty in demand carbons fumed car single in stimulus believe robust to silicone chemicals business is our quarter China In our specialty September and demand. positively compounds with turnarounds business fumed to remains as light partner penetration volume in factor silica After solid digit. of We demand. for plant terms in this expand solid segment, growth government-sponsored China. further of in and demand in both impact be the lines fence-line continues by silica slowdown underlying these China. performance industry for a impacting October Volumes the resumed October and the our the for the fourth in decreased likelihood product low to given vehicle in In the programs growth
increase we pricing production the that and the strictly they will environmental again to observed into curtailment Since we us Looking environmental last period committed under enforced starting to environmental be October limited anticipated have due XX+X number will emission controls. solid best-in-class continued and remain and ahead they of when of our remains limits We expect evident winter cities that to have to for China limits. emission year went be stricter in our season curtailment winter the volumes by enforcement.
a strong dynamic to is environmental Chinese winter signals government’s expect we of be the the commitment enforcement, are we the to as these While progress through this balancing act months. situation for the and government
Chinese lower-cost it combination on Chinese wave tariffs the of of U.S. U.S. Chinese many consumer higher truck there fact, to tire import with tariffs is the tariffs to the and sold changes, been in level important come end another to the typically while country be trade increase tires. countries. between on there trade An prices tires results Finally, EU regard in of the first in imports. U.S. what This the in Chinese experienced may and tires an and produced dispute are recognize other is brand-new for tariffs in that from China to producing will years both flow industry on meaning tires of a
shifting the higher in produces a in dependency flows in likely is world’s production significant reduction and tires structural XX% than Given produced rather prices of China tires of Chinese China. that a on approximately the will a tire there result trade
our summary, in is in very position So China strong.
our deep that environmental control, we to operations relationships business decades value help drive companies us to world-class continue plants installation. and to for technology, migrate allowed has makes. We cultivated the the volume with those our preference margins China with growth three of with customers do We’ve to Cabot have in as product expanding over customers our while Cabot advantaged higher
into this and results the will it in into McLaughlin we I to over of heading we Erica We feel continue are to have discuss now more seen turn quarter trend XXXX. well-positioned financial October the Erica? fiscal detail.
