Oillion's four carbon black factories in the United States complete air emission technology upgrades

Recently, Oilon, the world's leading specialty chemicals manufacturer, announced that it has successfully completed the upgrade of air emission control technology at its four carbon black production plants in the United States. The move is the largest action taken in the field of sustainability in the company's history.

Oerilon's upgrade involves its factory in Belpree, Ohio, which is the last factory in the United States to complete an air emission control upgrade. Prior to this, the company had successfully upgraded systems at three plants in Borg, Texas, Ivanhoe, Louisiana, and Orange, Texas. It is reported that this series of upgrades are part of an important initiative implemented by the U.S. Environmental Protection Agency for all carbon black producers in China.

For Oilon, these upgrade projects are not only significant, but also challenging. The reason is that the company has far more carbon black factories in the United States than other peers, so it needs to face a more complex situation when upgrading its technology. Despite this, Oilon still firmly promotes these upgrade projects to actively respond to environmental requirements and is committed to improving the environmental performance of the production process.

However, although market demand is gradually recovering, demand growth is still slower than expected in many markets. Affected by this, Oerilong expects that its adjusted earnings before interest, tax, depreciation and amortization in 2023 will be under a certain degree of pressure. On the one hand, the pace of recovery in the end market is slowing down; on the other hand, stoppages related to factory upgrade projects will also have a negative impact on performance. As a result, the company expects its 2023 earnings to be lower than its previously forecast range of $330 million to $340 million.

Despite this, Oilon remains optimistic about its future development. The company predicts that it will achieve its fourth year of profit growth in 2024 after short-term challenges. CEO Corning Painter pointed out that similar to 2023, earnings in 2024 are expected to show a single-digit growth trend of no less than 4%. This expectation reflects Oerilong's confidence in the continued recovery of the market and its own profitability.

In his summary, Painter emphasized: "Ou Lilong will unswervingly continue to invest in projects closely related to sustainable development. Our goal is not limited to meeting current environmental requirements, but also to promote the green transformation of the entire industry. In the future, we will focus on the production of conductive materials for lithium-ion batteries and the development of circular economy products, with a view to making greater contributions to global sustainable development."