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Orion Engineered Carbons to Increase Specialty Carbon Black Prices Globally
Rhea-AI Impact
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Rhea-AI Summary
Orion Engineered Carbons (NYSE: OEC) announced a price increase for all specialty carbon black products, effective December 1, 2021. This decision comes in response to rising raw material, energy, and supply chain costs. CEO Corning Painter emphasized that the adjustment aims to uphold the company's commitment to providing reliable and sustainable solutions. The exact price increase will vary based on product type, manufacturing process, and location. Orion Engineered Carbons is a prominent supplier with over 125 years of experience in carbon black production.
Positive
Price increase aimed at offsetting rising raw material and supply chain costs.
Company maintains commitment to reliable and sustainable solutions.
Negative
Rising costs indicate potential pressures on profit margins.
Price adjustments may affect customer relationships and demand.
HOUSTON--(BUSINESS WIRE)--
Orion Engineered Carbons(NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, announced today it will raise prices for all specialty carbon black customers.
The increase, which will be communicated individually, will vary depending on the product, manufacturing process and location.
“Sharply rising raw material, energy and supply chain costs have made the price adjustment necessary. It will enable us to continue to deliver reliable and sustainable solutions to our customers,” said Corning Painter, CEO of Orion Engineered Carbons.
The increased pricing will be effective for all shipments beginning December 1, 2021, or as contracts allow.
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.
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.
