HOUSTON – Orion S.A. (NYSE: OEC), a global specialty chemicals producer, announced today it has completed upgrading its air emissions control technology at all four of its U.S. carbon black plants – the biggest sustainability-related initiative in the company’s history.
The company recently finished its final air emissions project at its plant in Belpre, Ohio. Previously, the company upgraded its Borger, Texas; Ivanhoe, Louisiana; and Orange, Texas, facilities.
The upgrades were part of an initiative from the U.S. Environmental Protection Agency that applied to all carbon black producers in America. The projects were especially challenging for Orion because it has more carbon black plants in the U.S. than any other company. Despite suffering from contractor issues, COVID-19 and supply-chain disruptions, Orion finished its projects ahead of some of its competitors.
“Our difficult journey to make our facilities run cleaner is now completed. Looking forward, we are entering an exciting new era as we focus more on investing in profitable growth, reducing debt and returning value to shareholders,” Orion CEO Corning Painter said.
“Central to our growth strategy, Orion will continue to invest in sustainability-linked projects,” Painter added. “This will include producing conductive materials for lithium-ion batteries and developing products for the circular economy.”
With a slower recovery in end markets and downtime as a result of Orion’s final EPA project, the company expects 2023 results to land at the lower end of its Adjusted EBITDA guidance range of $330 million to $340 million. While demand is recovering, it is building slower than expected in many markets.
“We are projecting our fourth year in a row of earnings growth in 2024 and expect the rate to be similar to 2023, which was a mid-single digit EBITDA increase,” Painter said.
About Orion S.A.
Orion S.A. (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability and add UV protection. Orion has four innovation centers and produces carbon black at 15 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information, other than as required by applicable law.
Contacts:
William Foreman
Orion S.A.
Director of Corporate Communications and Government Affairs
Direct: +1 832-445-3305
Wendy Wilson
Orion S.A.
Head of Investor Relations
+1 281-974-0155
