Orion to Increase Prices and Reduce Payment Terms for Carbon Black Rubber Manufactured in Europe and America
HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, today announced that it will increase prices by 20% for all rubber carbon black products manufactured in Europe and the Americas.
Payment terms will be reduced by at least 50% to comply with updated standards in different regions. The changes will be effective for all shipments beginning August 1, 2022, or as contracts permit.
“This price adjustment reflects increased manufacturing costs, investments in environmental control and operating costs, and continued investments to ensure reliable supply,” said Orion CEO, CorningPainter. “Given the rising cost of raw materials, payment terms need to be reduced to acceptable working capital levels. This will allow us to continue to provide stable and reliable supplies to our customers. »
About Orion Engineered Carbons
Orion Engineered Carbons (NYSE: OEC) is one of the world’s leading suppliers of carbon black, a solid form of carbon produced in powder or pellet form. The material is manufactured to exacting customer specifications for tires, coatings, ink, batteries, plastics and many other high performance specialty applications. Carbon black is used to tint, color, strengthen, conduct electricity, increase durability and add UV protection. Orion has innovation centers on three continents and 14 factories around the world, offering the most diverse variety of production processes in the industry. The company’s corporate lineage dates back over 160 years to Germany, where it operates the oldest carbon black plant in the world. Orion is a leading innovator, applying a deep understanding of customer needs to deliver sustainable solutions. For more information, visit orioncarbons.com.
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