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Orion Engineered Carbons to Increase Rubber Carbon Black Prices in Europe
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Rhea-AI Summary
Orion Engineered Carbons (NYSE: OEC) announced changes to its pricing structure for rubber carbon black products, effective April 1, 2022. The company is implementing an increase in the carbon black oil surcharge and introducing a natural gas charge for products manufactured in Europe. These adjustments are driven by fluctuations in feedstock availability, quality, and logistics, along with volatile natural gas costs, ensuring Orion maintains its status as a reliable global supplier of high-quality goods.
Positive
Introduction of a natural gas charge could help mitigate rising costs.
Changes aim to maintain quality and reliability in supply.
Negative
Increase in carbon black oil surcharge may lead to higher product prices for customers.
Volatility in supply chain costs signals potential risks for future pricing stability.
HOUSTON--(BUSINESS WIRE)--
Orion Engineered Carbons (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, announced today that effective for all shipments made on or after April 1, 2022, or as permitted by customer contracts, the company is changing its carbon black oil surcharge and introducing a natural gas charge on all rubber carbon black products manufactured in Europe.
Due to changes in feedstock availability, quality and logistics, the company considers it necessary to adjust its carbon black oil surcharge to reflect actual cost developments. In addition, given the volatile cost situation in the natural gas supply, Orion is introducing a natural gas charge for all rubber carbon black produced in Orion’s European plants.
These actions are required to continue to remain a reliable, long-term global supplier of high-quality goods and services to our customers as we safely and sustainably manufacture our rubber carbon black products.
About Orion Engineered Carbons Orion Engineered Carbons (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 innovation centers on three continents and 14 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 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.
William Foreman Orion Engineered Carbons Director of Corporate Communications and Government Affairs
william.foreman@orioncarbons.com
Direct: +1 832-445-3305
Mobile: +1 281-889-7833
Source: Orion Engineered Carbons S.A.
FAQ
What changes is Orion Engineered Carbons making to its pricing structure for rubber carbon black products?
Orion Engineered Carbons is increasing its carbon black oil surcharge and introducing a natural gas charge for rubber carbon black manufactured in Europe, effective April 1, 2022.
Why is Orion Engineered Carbons changing its carbon black pricing?
The changes are due to fluctuations in feedstock availability, quality, logistics, and volatile natural gas costs.
When will the new pricing for Orion Engineered Carbons take effect?
The new pricing structure will be effective for all shipments made on or after April 1, 2022.
How will the changes in pricing affect Orion Engineered Carbons' customers?
The increase in the carbon black oil surcharge may lead to higher product prices for customers.
What is the significance of Orion's adjustments in pricing for its market position?
These adjustments are aimed at ensuring Orion remains a reliable global supplier of high-quality carbon black products.
