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
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Contacts:
William Foreman
Orion S.A.
Director of Corporate Communications and Government Affairs
william.foreman@orioncarbons.com
Direct: +1 832-445-3305
Wendy Wilson
Orion S.A.
Head of Investor Relations
+1 281-974-0155
Last year, Orion was the first to achieve ISCC PLUS for multiple carbon black grades made from different feedstocks at plants in two regions of the world. The facilities were in Borger, Texas; Belpre, Ohio; and Jaslo, Poland. The three facilities were recertified this year.
an honorable mention. This year, the Recircle award is a great recognition of the results of the project, which is co-funded by the European Union and involves 13 entities from five countries aiming to create a massive circular economy for tyres.
HOUSTON – Orion S.A. (NYSE: OEC), a global specialty chemicals producer, is investing €12.8 million – including €6.4 million in funding from the German government and European Union – to further develop and demonstrate a climate-neutral process for producing carbon black from alternative carbon sources, the company said today.
“We are grateful for the funding from the EU and the German government. It shows a great commitment to innovation and creating a circular economy,” Orion CEO Corning Painter said.
HOUSTON – Orion S.A. (NYSE: OEC), a global specialty chemicals company, today released its 2022 Sustainability Report that highlights a variety of initiatives, including launching four new sustainable products, conducting a Scope 3 greenhouse gas emissions inventory and nearing the completion of a massive air emissions control project.
