HOUSTON--(BUSINESS WIRE)--Orion Engineered Carbons (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, announced today that effective January 1, 2022, the company is implementing a carbon dioxide (CO2) surcharge on all carbon blacks produced in Europe, to the extent contracts allow.
The official EU Emission Trading System (ETS) aims to support the EU climate neutrality target by 2050 and the intermediate target of at least 55 percent net reduction in greenhouse gas emissions by 2030 compared to 1990. The EU ETS has entered its fourth trading phase (2021-2030) resulting in additional costs based on direct CO2 emissions for the carbon black industry.
In consequence, the company will introduce a respective surcharge to its customers in order to continue being a reliable, long-term global supplier of high-quality products and services while manufacturing its carbon black products safely and sustainably.
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
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