Orion Engineered Carbons to Increase Specialty Black Pricing
Orion Engineered Carbons (NYSE: OEC) announced a necessary price increase of up to 20% for its specialty carbon black products, effective July 1, 2021, or as contracts allow. This decision comes in response to rising demand for specialty products and increasing global raw material and supply chain costs. CEO Corning Painter emphasized that the price hike will support the company in maintaining its status as a reliable supplier of high-quality products while ensuring sustainable manufacturing practices.
- Implementation of a 20% price increase could enhance revenue amid rising demand.
- Strategy aligns with the commitment to sustainable manufacturing and high-quality products.
- Rising raw material and supply chain costs could indicate broader operational challenges.
Orion Engineered Carbons S.A. (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, announced it will raise pricing for its specialty carbon black products. The price increase is necessary due to continuous higher demand for its specialty products, as well as sharply rising global raw material and supply chain costs.
Against this backdrop, Orion Engineered Carbons will increase specialty carbon black prices by up to 20 percent globally, effective July 1, 2021, or as soon as individual contracts allow, for all shipments on or after that date.
“This action will enable us to continue being a reliable, long-term global supplier of high-quality products and services to our customers as we manufacture our specialty carbon black products safely and sustainably,” said Corning Painter, chief executive officer of Orion Engineered Carbons.
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, such as automotive belts and hoses. 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.
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