Orion Engineered Carbons Completes State-of-the-Art Cogeneration Unit at Qingdao, China Facility
Orion Engineered Carbons S.A. (NYSE: OEC) has successfully completed a multi-year upgrade at its Qingdao, China facility, implementing a new cogeneration unit that enhances sustainability by recovering energy from operations. This eco-friendly initiative not only improves energy efficiency but also provides heating for up to 5,000 homes in the local district. The upgrade exemplifies the company’s commitment to fostering community ties and driving long-term sustainability. CEO Corning Painter emphasized that such capital investments demonstrate a positive intersection of business interests and environmental responsibility.
- Completed a multi-year upgrade at Qingdao facility.
- Installed a cogeneration unit that enhances sustainability.
- Improves reliability at the Qingdao facility.
- Provides heating for up to 5,000 homes, benefiting the local community.
- None.
Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of specialty and high-performance carbon black, today announced that it has completed a multi-year upgrade to its Qingdao, China facility. A new, state-of-the-art, cogeneration unit was installed, which boosts the site’s sustainability by recovering more energy from the facility.
“This is an example of what is good for the environment can be good business too. Similar to the recent cogeneration unit upgrade at our Borger, Texas facility, this installation is an example of sustainability in action. It deepens our ties with the community by supplying power and heat to the local district. We will continue to focus on “win-win” capital investments and strive to be a positive force in driving long-term sustainability,” said Corning Painter, chief executive officer of Orion Engineered Carbons.
This new cogeneration unit also greatly improves reliability at the Qingdao facility. In addition to electricity generation, the unit will recover enough energy to provide heating to up to 5,000 homes in the district.
About Orion Engineered Carbons
Orion is a worldwide supplier of carbon black. We produce a broad range of carbon blacks that include high-performance specialty gas blacks, acetylene blacks, furnace blacks, lamp blacks, thermal blacks and other carbon blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, tires, and mechanical rubber goods such as automotive belts and hoses. Orion operates 14 global production sites and has approximately 1,425 employees worldwide. For more information, please visit our website www.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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201216005923/en/
