Orion Engineered Carbons issues statement on Ukraine/Russia conflict
On Monday, March 7, Orion Engineered Carbons issued a statement on the conflict in Ukraine. The statement is presented in its entirety below.
How are natural gas prices in Europe impacting your business? On a net basis, our business in Europe is facing an overall manageable headwind from current energy pricing developments. We have hedging programs in place and for our formula and nonformula customers, natural gas costs are part of our pricing negotiations. Do you have assets in Russia or Ukraine? No. We do not have any direct risk exposure in Russia or Ukraine. Do you import Carbon Black Oil as feedstock from Russia? No, we do not. How much of your business in Europe is spot versus contracted? Spot is less than ten percent of our business in Europe. Do you have any capacity available for customers who need to move their business from Russia or Ukraine to Europe? Our capacity remains tight in Europe. However, our new production line in Ravenna Italy was recently commissioned which adds capacity to the region and the line should be filled sooner than anticipated. Do you have Ukrainian or Russian customers which you no longer deliver to? Historically, Orion’s business activities in Ukraine and Russia have been very limited. Our few Russian customers have been informed that deliveries to them have been discontinued.