LUXEMBOURG--(BUSINESS WIRE)--Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of
specialty and high-performance Carbon Black, today announced that the
management of its company in France, Orion Engineered Carbons SAS, has
begun consultations with the Works Council at its Ambѐs, 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.
Jack Clem, Orion’s group CEO, said 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.
“Orion remains committed to maintaining its position as the leading
producer of specialty carbon blacks and a major supplier of carbon
blacks to the global rubber industry,” he added. “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.”
The French Orion plant employs approximately 40 people.
“We regret the impact this restructuring may have on our employees and
their families,” said Clem. “The men and women who work in our Ambѐs
carbon black operation have always worked diligently to support the
company." Clem said the local management will work with the employee
representatives to assist employees directly impacted by a potential
closure with a comprehensive social plan.
According to Clem, in the event manufacturing is stopped the plant would
be deactivated simultaneously with the depletion of the existing stocks,
thus fulfilling ongoing existing customer commitments until depletion.
Ambѐs is a commune located in the Aquitaine region in the south-west of
France, 20 km from Bordeaux and 480 km from Paris. The facility in Ambѐs
was founded by the American Philips Petroleum Company and Continental
Carbon Company in 1959 and began operations in 1960 as Cofrablack. It
was purchased by Degussa, the predecessor to Orion Engineered Carbons,
in 1986.
About Orion Engineered Carbons S.A.
Orion Engineered Carbons is a worldwide supplier of Carbon Black. The
company offers standard and high-performance products for Coatings,
Printing Inks, Polymers, Rubber and other applications. Our high-quality
Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize
and enhance the performance of plastics, paints and coatings, inks and
toners, adhesives and sealants, tires, and manufactured rubber goods
such as automotive belts and hoses. With 1,530 employees worldwide,
Orion Engineered Carbons runs 15 global production sites and four
Applied Technology Centers. For more information visit our website www.orioncarbons.com.
Forward Looking Statements
This document contains certain forward-looking statements with respect
to our financial condition, results of operations and business. These
statements constitute forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are statements of future expectations that
are based on management’s current expectations and assumptions and
involve known and unknown risks and uncertainties that could cause
actual results, performance or events to differ materially from those
expressed or implied in these statements. Forward-looking statements
include, among others, statements concerning the potential exposure to
market risks, statements expressing management’s expectations, beliefs,
estimates, forecasts, projections and assumptions and statements that
are not limited to statements of historical or present facts or
conditions. Some of these statements can be identified by terms and
phrases such as “anticipate,” “believe,” “intend,” “estimate,” “expect,”
“continue,” “could,” “should,” “may,” “plan,” “project,” “predict” and
similar expressions. Factors that could cause our actual results to
differ materially from those expressed or implied in such
forward-looking statements include those factors detailed under the
captions “Note Regarding Forward-Looking Statements” and “Risk Factors”
in our Annual Report on Form 20-F for the year ended December 31, 2015
and in Note 9 to our unaudited interim condensed consolidated financial
statements as at March 31, 2016 regarding contingent liabilities,
including litigation. You should not place undue reliance on
forward-looking statements. Each forward-looking statement speaks only
as of the date of the particular statement. New risk factors and
uncertainties emerge from time to time and it is not possible for our
management to predict all risk factors and uncertainties, nor can we
assess the impact of all factors on our business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. We undertake no obligation to publicly update or revise any
forward-looking statement as a result of new information, future events
or other information, other than as required by applicable law.
