Welcome to our dedicated page for Orion news (Ticker: OEC), a resource for investors and traders seeking the latest updates and insights on Orion stock.
Orion S.A. reports news as a global specialty chemicals company focused on carbon black, a solid form of carbon supplied as powder or pellets for tires, coatings, ink, batteries, plastics and other performance applications. Updates commonly address its Specialty Carbon Black and Rubber Carbon Black businesses, including demand trends, oil-linked pricing pass-throughs, feedstock and energy costs, surcharges, production optimization and customer supply conditions.
Company announcements also cover quarterly and annual earnings, adjusted EBITDA outlook changes, cash flow, working-capital actions, interim dividends, annual general meeting matters and investor conference participation. Orion operates carbon black production sites worldwide and maintains innovation centers that support application development across rubber reinforcement, pigments, conductive additives, durability and UV-protection uses.
Orion Engineered Carbons (NYSE: OEC) has commenced construction on its second carbon black manufacturing facility in China, aimed to meet rising demand in the Asia-Pacific region. Set to be operational by late 2023, the plant in Huaibei, Anhui will produce 65-70 kilotons of specialty carbon black annually. This expansion complements Orion's existing facility in Qingdao and enhances its competitive position in the global market. Additionally, the plant will utilize waste heat for steam generation, demonstrating the company's commitment to sustainability.
Orion Engineered Carbons (NYSE: OEC) announced participation in one-on-one meetings at the UBS Chemicals Virtual Conference on September 8, 2021. CEO Corning Painter and CFO Lorin Crenshaw will represent the company. Orion specializes in high-performance carbon black products used in various industries, including automotive, industrial, and consumer goods.
With over 125 years of history, Orion operates 14 global production sites and emphasizes responsible business practices focused on innovation and sustainability. More information can be found at orioncarbons.com.
Orion Engineered Carbons (NYSE: OEC) announced a price increase of 8 cents per pound for all carbon black products produced in North America, effective September 15, 2021. This decision is attributed to rising operating costs due to recently installed emissions control systems and the need for capital investments. Adjustments will also affect service charges and payment terms to reflect increased logistics costs. Orion aims to enhance safety and sustainability in its production processes while maintaining its commitment as a reliable supplier of high-quality carbon black products.
Orion Engineered Carbons (NYSE: OEC) reported strong financial results for Q2 2021, achieving net sales of $401.0 million, up $198.4 million year over year. Net income soared to $89.1 million, a remarkable turnaround from a loss of $17.8 million in Q2 2020. Adjusted EBITDA reached $78.8 million, marking a fourfold increase compared to the previous year. The company also settled a long-standing dispute with Evonik, receiving $79.5 million. With an optimistic outlook, adjusted EBITDA guidance has been raised to $265 million to $285 million for the year, despite expected seasonal impacts.
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Orion Engineered Carbons S.A. (NYSE: OEC) has entered a partnership with RISE Research Institutes of Sweden to develop renewable carbon black, aiming for climate-neutral production. This initiative will replace traditional carbon black feedstock with pyrolysis oil derived from biomass. Orion will utilize its furnace reactor in Germany to convert biomass oil, while RISE will test sustainable heat sources like electrofuels in Sweden. This project aligns with the tire industry's goal to reduce fossil feedstocks, enhancing sustainability in production.
Orion Engineered Carbons (NYSE: OEC) has joined the HiQ-CARB consortium to develop sustainable carbon additives for the lithium-ion battery industry. This collaboration includes seven prominent European companies and research institutions, aiming to create innovative battery materials with minimal carbon footprints. Orion's acetylene black is highlighted for its superior conductivity and low carbon impact, crucial for enhancing battery performance across various applications. This effort aligns with the European Commission's goal of achieving carbon neutrality by 2050.
Orion Engineered Carbons (NYSE: OEC) will release its second quarter 2021 results after market close on August 5, 2021. A conference call will follow on August 6, 2021, at 8:30 a.m. EDT. Investors can participate by dialing in or accessing a replay through August 13, 2021. The company specializes in carbon black products used in various applications including tires, coatings, and plastics, and emphasizes sustainability and innovation across its 14 global production sites.
Orion Engineered Carbons S.A. (NYSE: OEC) has announced a price increase for all rubber carbon black products in the EMEA region, effective August 1, 2021. The average increase will be €110 per ton, driven by rising operational, logistics, and environmental costs. Additionally, adjustments will be made to service surcharges and payment terms. This decision aims to ensure the company's reliability as a long-term supplier of high-quality products and services while adhering to sustainable manufacturing practices.
Orion Engineered Carbons (NYSE: OEC) has settled arbitration proceedings with Evonik Industries AG, resolving claims related to the U.S. Clean Air Act. Evonik will pay €66.55 million (approx. $79.3 million) to Orion, settling disputes over indemnity claims from the 2011 acquisition of Orion's carbon black business. The settlement concludes a nearly decade-long legal issue arising from historical environmental violations. This agreement also allows Orion to move forward without ongoing legal entanglements.