ranjit | Feb 19, 2018 | 0
Orion Engineered Carbons to close plant in France
Orion Engineered Carbons S.A said it plans to close down its carbon black plant in France. Management has begun consultations with the Works Council at its Ambes, France facility in order to implement a restructuring and down staffing with a potential cessation of production at the site by the end of 2016, media reports said.
Orion employs around 40 people. A news report quoted CEO Jack Clem as saying that in order for the group to remain competitive in today’s global marketplace, it must fully utilize the capabilities of its carbon black operations, concentrating resources at more efficient facilities and those capable of producing technically special and unique grades that can compete in today’s challenging environment.
“The consolidation of the Orion group’s manufacturing operations in Europe would be another step in improving our sustainability to better serve our existing markets particularly those requiring more specialized products to meet their end customers’ demands,” Clem said. OEC trades in the upper half of the 52-week range between $9.69 and $20.58.
Orion Engineered Carbons S.A. manufactures and sells carbon black products in Germany and the rest of Europe, the United States, South Korea, Brazil, South Africa, and internationally