LUXEMBOURG—Orion Engineered Carbons S.A. has seen its rubber segment sales and profits soar in the third quarter of 2018, a result it credits to higher prices and improved product mix.
In its quarterly statement released Nov. 1, the carbon black supplier said its rubber segment had achieved a "record quarterly profit" at $17.9 million, 41.8 percent up compared to the third quarter of 2017.
These were due to "a continued focus on improving the technical mix of rubber products, and stronger spot pricing supported by a robust market environment," said newly appointed CEO Corning Painter, who took over the position in October.
Excluding the impact of the closure of one plant in South Korea, rubber volumes increased by 2.7 percent compared to the previous year, reflecting a strong demand in all regions.
Total rubber volumes were, however, down by 2.1 percent, when the South Korean closure is considered.