Orion Engineered Carbons S.A. (NYSE: OEC) (the "Company" or "Orion"), a worldwide supplier of specialty and high-performance Carbon Black, today announced the Company is adopting the Platts North West Europe 1% Sulfur fuel oil index (FO 1%S FOB NWE) for contract pricing in Europe replacing the 1% Sulfur Rotterdam fuel oil index (FO 1%S FOB ROT) in Europe as of July 1st 2019. The 1% Sulfur Rotterdam fuel oil index is no longer functional, does not trade forward and does not track other 1% indices anymore. FO 1%S FOB NWE is currently functioning and therefore is the appropriate index at this time. Orion exclusively uses low Sulfur carbon black oil (CBO) grades in Europe.
"Orion values our European customers and strives to work with them in a highly transparent way," said Erik Thiry, Senior Vice President Rubber Carbon Black. "Orion will continue to closely monitor CBO market changes with the upcoming IMO Marpol 2020 regulations. We will keep our customers updated if further required changes are needed due to changes in feedstock markets. We look forward to growing our customer relationships with the reliable supply of value-added carbon blacks."
About Orion Engineered Carbons S.A.
Orion is a worldwide supplier of Carbon Black. Orion group produces a broad range of Carbon Blacks that include 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, tires, and mechanical rubber goods such as automotive belts and hoses. Orion runs 14 global production sites. The group has approximately 1,450 employees worldwide. For more information please visit the Orion website www.orioncarbons.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190607005431/en/
Contacts:
Orion Engineered Carbons S.A.
Investor Relations
Diana Downey, +1 832-589-2285
Investor-Relations@orioncarbons.com
