Orion to Increase Prices, Reduce Payment Terms for Rubber Carbon Black Made in Europe and the Americas

HOUSTON--(BUSINESS WIRE)--Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, announced today it will raise 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 conform with updated standards across the different regions. The changes will be effective for all shipments on or after Aug. 1, 2022, or as contracts permit.

“This price adjustment reflects increased manufacturing costs, environmental control investments and operating costs, as well as continued investments to ensure reliable supply,” said Orion CEO Corning Painter. “Given the increased cost of feedstocks, payment terms need to be reduced to acceptable working capital levels. This will enable us to continue to deliver stable and reliable supplies to our customers.”

About Orion Engineered Carbons

Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 14 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.

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