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Orion Engineered Carbons Initiates Construction of Second Plant in China
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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.
Positive
Construction of a second plant in China to meet increasing demand.
Targeted production capacity of 65-70 kilotons per year for specialty carbon black.
Expansion complements existing Chinese operations, reinforcing market presence.
Innovative sustainability efforts, including converting waste heat to steam.
Negative
None.
The new facility positions the company for growth, enabling Orion to meet increasing demand for carbon black in the rapidly expanding Asia-Pacific region
HOUSTON--(BUSINESS WIRE)--
Orion Engineered Carbons (NYSE: OEC) today began constructing its second plant in China for specialty and high-performance carbon black, expanding the chemical company’s production capacity in one of the world’s fastest-growing markets.
Carbon black, available as powder or beads, is commonly used in tires, textile fibers, coatings, batteries and numerous other everyday goods. It tints or colorizes as well as reinforces products, conducts electricity and provides UV protection, among many other uses across a wide range of applications and end markets.
Orion’s new facility in Huaibei in the eastern province of Anhui is expected to be completed late next year and to begin operating in 2023.
With a targeted initial production capacity of 65-70 kilotons per year, the plant will be able to make a variety of carbon black for specialty and high-end rubber grades.
“The strongest growth in demand for carbon black in the coming years is widely projected to be in Asia,” said Corning F. Painter, chief executive officer at Orion. “This new site in China will enable us to better supply our customers and strengthen our position as a leading global supplier of specialty and high-performance carbon black.”
The new site complements Orion’s first Chinese plant, built in 1994 in Qingdao in the eastern province of Shandong, as well as Orion’s production site in Yeosu, South Korea.
An innovator in sustainability, Orion will equip the plant to convert its waste heat to steam that will be sold to the local industrial park.
About Orion Engineered Carbons
Orion Engineered Carbons (NYSE:OEC) is a global supplier of carbon black products, including 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, batteries, tires, and mechanical rubber goods. The company has over 125 years of history providing customized solutions from a network of 14 global production sites and is dedicated to responsible business practices that emphasize reliability, innovation and sustainability. 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.
