Orion S.A. Completes all Air Emissions Technology Projects and Updates Business Conditions
January 22 2024 - 4:35PM
Business Wire
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 the
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 United States
than any other company. Despite suffering from contractor issues,
COVID-19 and supply chain disruptions, Orion finished ahead of some
competitors.
“Our difficult journey to make our facilities run cleaner is now
completed. Well done to the Orion team,” said Orion CEO Corning
Painter. “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.”
“Central to our growth strategy, Orion will continue to invest
in sustainability-linked projects,” Painter continued. “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
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and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially
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version on businesswire.com: https://www.businesswire.com/news/home/20240122240804/en/
Wendy Wilson Orion S.A. Head of Investor Relations
wendy.wilson@orioncarbons.com +1 281-974-0155
William Foreman Orion S.A. Director of Corporate Communications
and Government Affairs william.foreman@orioncarbons.com Direct: +1
832-445-3305
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