Orion Inks Agreement With Contec S.A. for Supply of TPO

Zacks
02-07

Orion S.A. OEC entered into a long-term supply pact with Contec S.A., which will provide it tire pyrolysis oil (“TPO”) to produce circular carbon black for tire and rubber goods. This agreement with Warsaw, Poland-based Contec allows Orian to diversify its sources of TPO.

TPO-based manufacturing uses circular technology to convert discarded end-of-life tires to a feedstock for Orion to produce virgin carbon black. This technology is being used in industrial production to produce high-quality active carbon black. Orion has established itself as the only company to have made circular carbon black from 100% TPO as a feedstock while also demonstrating how circular products can replace virgin carbon black in many applications.

Contec-supplied ConPyro TPO will enable Orion to make large-scale volumes of circular grades of carbon black that will supply growing demand from the world’s leading tire and rubber goods producers.

OEC stock has lost 40.9% in the past year compared with the 16.1% slump in the industry.


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OEC’s Zacks Rank and Key Picks

OEC currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the Basic Materials space are Ingevity Corporation NGVT, Carpenter Technology Corporation CRS and Methanex Corp. MEOH. While NGVT sports a Zacks Rank #1 (Strong Buy), CRS and MEOH carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $2.75 per share. NGVT beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 95.4%. Its shares have gained 3% in the past year.

The Zacks Consensus Estimate for Carpenter Technology’s current fiscal-year earnings is pegged at $6.83 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 15.7%. Its shares have soared 205.5% in the past year.

The Zacks Consensus Estimate for Methanex’s current-year earnings is pegged at $4.02 per share. MEOH surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 85.2%. The stock has gained 16.2% in the past year.







 







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