OEC - Orion Engineered Carbons to Increase Hard Carbon Black Capacity at Louisiana Plant
Orion Engineered Carbons (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, announced today that next year the company will invest to convert a reactor line at its plant in Ivanhoe, La., from manufacturing soft carbon black to producing hard carbon black, commonly used in tire treads.
“With the continued onshoring of tire production to the U.S., the carbon black supply-demand balance is getting tighter, particularly for hard carbon black,” CEO Corning Painter said.
“To help support this aspect of the automotive tire supply chain, we are going to invest in converting a reactor at our Ivanhoe plant, increasing the domestic supply of hard black by about 30,000 tons per year by mid-2022. Soft black capacity will be decreased by about the same amount,” Painter added.
Adding carbon black to tires makes them stronger, reduces treadwear, allows tire engineers to fine tune performance and protects from the damaging effects of UV light.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211108006101/en/
William Foreman
Director of Corporate Communications and Government Affairs
Orion Engineered Carbons
Direct: +1 832-445-3305
william.foreman@orioncarbons.com
Wendy Wilson
Head of Investor Relations
Orion Engineered Carbons
Direct: +1 281-974-0155
Investor.relations@orioncarbons.com