May 20, 2013 7:10 PM by Tonya LaCoste
The City of Jeanerette is one step closer to reviving the old Fruit of the Loom building which has sat empty since late 2012. The city has signed a lease agreement with Cabot Corporation and is required to advertise the agreement three times over 15 days. As soon as that legal obligation is met, Cabot will give a $20,000 down payment and pay the city $20,000 a month for ten years. Also, Cabot will pay for maintenance and insurance.
"I hope and pray it'll pray more economic development and more jobs," Mayor Timothy de'Clouet said.
Cabot Corporation's headquarters is in Boston, MA. Although the company manufactures a variety of products, it mainly manufactures carbon black, which is used as a reinforcing agent in rubber and plastic products. The most common use of carbon black is in tires, but it's also used in other products, including wire, cable, plastics, codings, and inks. "Just about anything that's black," Ville Platte Cabot Corporation General Manager Mark Suellentrop told KATC in April.