Orion S.A. Reports 56% Drop In Quarterly Profit Amid Demand Headwinds
- By TT News
- August 19, 2025
Speciality chemicals company Orion S.A. reported a 56 percent decline in second-quarter net income, as persistent demand challenges and elevated tyre imports weighed on performance despite improved production volumes.
The Houston-based carbon black manufacturer posted net income of USD 9.0 million, or 16 cents per share, for the three months ended 30 , compared with USD 20.5 million, or 35 cents per share, in the same period last year.
Revenue fell 2.2 percent to USD 466.4 million from USD 477.0 million a year earlier, primarily due to lower oil prices, though higher volumes in the rubber carbon black segment partially offset this.
“Our second quarter results were in line with our expectations, helped by an improved sequential plant performance,” stated Corning Painter, Chief Executive Officer.
“We overcame persistent demand headwinds related to elevated tire imports, which have continued to pressure key tire customers, along with broader customer hesitancy reflecting considerable macro uncertainty,” continued Painter.
The company's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 8.4 percent to USD 68.8 million from USD 75.1 million in the prior-year quarter. Adjusted diluted earnings per share fell to 32 cents from 41 cents.
Mixed Segment Performance
Orion’s speciality carbon black segment struggled significantly, with volumes dropping 7.8 percent to 58.0 thousand metric tonnes as demand weakened in Europe, the Middle East, Africa and the Americas. The segment's adjusted EBITDA plummeted 28.9 percent to USD 19.9 million.
In contrast, the larger rubber carbon black division showed resilience, with volumes rising 6.9 percent to 182.0 thousand metric tonnes due to stronger demand in Asia Pacific and the Americas. The segment’s adjusted EBITDA increased 3.8 percent to USD 48.9 million, aided by lower fixed costs and higher cogeneration benefits.
Capacity Rationalisation Planned
The company announced plans to discontinue production at three to five carbon black production lines across multiple facilities as it adapts to challenging market conditions.
Chief Financial Officer Jeff Glajch emphasised the company’s focus on cash generation despite headwinds.
“We are resolutely focused on levers to improve cash flow,” stated Orion’s Chief Financial Officer Jeff Glajch. “Even with the persistent macro headwinds, we expect to reach our previously conveyed goal of more than $50 million of free cash flow for 2025.”
Midas, Asia’s largest manufacturer of tyre retreading materials, has launched O-rings designed for off-the-road (OTR) tyres, aimed at delivering reliable sealing performance in demanding operating conditions.
The O-rings are manufactured using high-quality natural rubber and are formulated to improve physical properties and ensure dimensional stability. According to the company, the product has been tested over many years in harsh environments and is intended to provide consistent, trouble-free performance in OTR tyre applications.
Midas said only REACH-compliant raw materials are used in the manufacture of the O-rings, underscoring its adherence to safety, quality and international regulatory standards.
Founded 56 years ago, Midas supplies tyre retreading materials to customers in more than 60 countries. The company said the launch reflects its continued focus on developing performance-oriented solutions for the global tyre and retreading industry.
Toyoda Gosei Launches Automotive Parts With 20% Recycled Rubber
- By TT News
- January 08, 2026
Toyoda Gosei has successfully commercialised automotive weatherstrips using recycled rubber, starting with the new Toyota RAV4. This marks a significant breakthrough in a field where rubber has historically been difficult to reuse, often ending up incinerated instead of truly recycled. Unlike steel or plastic, rubber recycling requires devulcanisation, a complex process that traditionally weakens the material and leaves behind unpleasant odours.
Through dedicated refinement of its proprietary devulcanisation technology, the company has overcome these longstanding quality hurdles. The advancements have dramatically increased the usable proportion of recycled material in automotive parts from under five percent to 20 percent, an achievement honoured by a Toyota Motor Project Award.
Looking ahead, Toyoda Gosei aims to extend this technology beyond synthetic rubber to include natural rubber, which is used in far greater volumes. The broader corporate ambition is to collaborate with automakers and partners to establish a full circular system. This system would collect and regenerate rubber from end-of-life vehicles, positioning the company as an industry leader in enabling both decarbonisation and sustainable resource circulation.
Michelin Reinforces Polymer Composite Solutions Business With Two Acquisition Projects
- By TT News
- January 05, 2026
Pursuing its strategic goals for 2030, Michelin is actively extending its technological leadership into adjacent, high-value sectors. This expansion is being accelerated through two key acquisitions announced in recent months: Cooley Group and Tex Tech Industries. Both US-based companies are leaders in advanced materials, specialising in high-performance fabrics and coatings, and align strongly with Michelin’s own focus on innovation and quality while bringing complementary geographic and technical strengths.
Cooley Group, marking its centennial in 2026, excels in creating engineered polymer-coated fabrics. Its fully integrated production enables custom solutions for critical applications in healthcare, industrial containment and waterproofing. Similarly, Tex Tech Industries, with over a century of operation, designs and manufactures specialised textiles for extreme demands, including thermal protection systems for aerospace, fire-blocking aircraft interiors and advanced composite materials.
These strategic moves significantly bolster Michelin’s existing position in coated fabrics, notably through its European brand Orca. By integrating Cooley and Tex Tech, Michelin anticipates accelerating its global market reach and increasing the revenue of its Polymer Composite Solutions division by approximately 20 percent, equating to roughly USD 280 million. Given the growing scale of this business, Michelin intends to establish it as a dedicated reporting segment starting in 2026.
The acquisitions, slated for completion in the first half of 2026 pending regulatory approvals, will be transacted in cash, with financial terms currently undisclosed.
Birla Carbon Secures Platinum Medal In EcoVadis Sustainability Rating
- By TT News
- December 27, 2025
Birla Carbon, a leading global manufacturer and supplier of high-quality carbon materials, has been awarded the prestigious Platinum sustainability rating by EcoVadis, ranking it within the top one percent of all assessed companies globally. This honour recognises the firm’s enterprise-wide leadership in integrating sustainability across its operations, innovation and value chain.
The evaluation specifically commended its strong performance across four key areas: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. This achievement is further validated by extensive third-party certifications, with over 75 percent of operations certified to international standards including ISO 14001, ISO 50001, ISO 45001, SA8000 and ISO 27001, underscoring the consistency and strength of its sustainability management systems.
John Loudermilk, President and CEO, Birla Carbon, said, “This Platinum rating reflects the steady progress we are making in embedding sustainability at the core of our business. Our growth strategy is geared towards delivering sustainability through innovation, operational excellence and responsible practices across our global footprint. We continually invest in sustainability and circularity-driven processes, keeping our operations sustainably efficient while creating long-term value for our customers, partners, communities and employees. Our sustainability strategy, Share the Future, serves as a roadmap to a sustainable future and guides our actions towards our aspiration of reaching net zero carbon emissions over the next 25 years. Being recognised among the top one percent of companies globally is a testament to the commitment of our teams worldwide.”
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