Orion Announces Its Biggest Sustainability Initiative in Company History
Orion S.A. announced it has completed upgrading its air emissions control technology at all four of its carbon black plants in the United States. This is the biggest sustainability-related initiative in the company’s history. The company recently finished its final air emissions project at its plant in Belpre, Ohio. Previously, the company upgraded its Borger, Texas; Ivanhoe, Louisiana; and Orange, Texas, facilities.
The upgrades were part of an initiative from the U.S. Environmental Protection Agency (EPA) that applied to all carbon black producers in America. These projects were challenging for Orion because in has more carbon black plants in the U.S. than any other company. Despite numerous hurdles, Orion was still able to finish its projects ahead of some of its competitors.
“Our difficult journey to make our facilities run cleaner is now completed,” said Orion CEO Corning Painter. “Looking forward, we are entering an exciting new era as we focus more on investing in profitable growth, reducing debt and returning value to shareholders.”
Due to a slower recovery in end markets and downtime because of Orion’s final EPA project, the company expects 2023 results to land at the lower end of its Adjusted EBITDA guidance range of $330 million to $340 million. While demand is recovering, it is building slower than expected in many markets.
“We are projecting our fourth year in a row of earnings growth in 2024 and expect the rate to be similar to 2023, which was a mid-single digit EBITDA increase,” said Painter.
To learn more, visit www.orioncarbons.com.
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