Orion Engineered Carbons S.A. (OEC) saw a rise of 5.95% in its stock’s price on Friday to end the week at a closing price of $13.54. It has concluded the Thursday trading at $12.78.
The company recently announced 125th anniversary of its Cologne, Germany located manufacturing plant. Orion is a worldwide manufacturer and supplier of rubber carbon blacks and specialty carbon blacks for printing inks, coatings, polymers, technical rubber goods, tires and more.
Dr. Sandra Niewiem, Senior Vice President EMEA and Global Specialty congratulated all of Cologne employees on achieving that extraordinary and historic milestone. For many decades, Orion remained innovating and committed to partner with its customers in development of the some of the finest specialty carbon blacks in the world. This certainly gives the company a reason to celebrate its exceptional achievements in this industry.
History of Orion goes back to 1862 when a German entrepreneur August Wegelin established a carbon black plant in the center of Cologne. After rapidly growing for more than three decades, the plant was relocated from central to its current site in southern part of the city in 1985.
The site then was acquired by Degussa AG in 1930s and was significantly expanded. In 2007, the Degussa AG was evolved as Evonik Industries AG laying carbon black business off. Afterwards in 2011, that previously sold business transitioned into forming a new independent company namely Orion Engineered Carbons which began trading on the NYSE in 2014.
Since then, the company persistently invested in the site taking actions including strengthening Cologne Innovation Center, creating logistic infrastructure of highly advanced level and improving production and packaging capacities at that site.
The facility is not only the oldest industrial carbon black plant in the world but is also the world’s largest specialty carbon black facility. The company is also committed to support the communities it serves as it is the prime provider of heat in the neighboring municipality of Hürth.