Orion to Increase Prices, Reduce Payment Terms for Rubber Carbon Black Made in Europe, Americas
HOUSTON, TX -- 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,” Orion CEO Corning Painter said. “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.”