Extrusion International 1-2024-USA

25 Extrusion International 3/2022 Acquisition Completed Davis-Standard announced that it has completed the previously an- nounced acquisition of Extrusion Technology Group (ETG). The acquisition includes three esteemed brands: battenfeld-cin- cinnati, Exelliq, and Simplas. These additions officially join the Davis- Standard family, marking a signifi - cant milestone in the company's strategic expansion. The acquisition further strengthens Davis-Stan- dard's position as an industry lead- er, combining its expertise with the innovative technologies and market presence of battenfeld-cincinnati, Exelliq, and Simplas. With a shared commitment to excellence, the uni- fied team is poised to deliver unpar - alleled solutions and support to cus- tomers worldwide. "We are thrilled to officially wel - come battenfeld-cincinnati, Exelliq, and Simplas to the Davis-Standard family. This strategic acquisition re- inforces our dedication to providing cutting-edge solutions and com- prehensive support to our custom- ers across various industries," said Giovanni Spitale, CEO of Davis-Stan- dard. "Together, we are well-posi- tioned to drive innovation, enhance operational efficiency, and meet the evolving needs of the global ex- trusion and converting market." Former ETG CEO and now Presi- dent of ETG and member of Da- vis Standard Executive Leadership Team Gerold Schley stated, "We are delighted to embark on this new chapter as part of the Davis-Stan- dard family of brands. The synergies between ETG and Davis-Standard present exciting opportunities for collaboration, innovation, and growth." Schley added, “We see numerous synergies that will allow us to integrate seamlessly, ensuring a smooth transition for customers of all brands." Integrating these renowned brands into the Davis-Standard port- folio brings a wealth of knowledge, experience, and advanced technolo- gies. Customers can expect an ex- panded product offering, increased service capabilities, and a broader geographical presence to serve their unique requirements better. Davis-Standard remains commit- ted to delivering value to its custom- ers, partners, and stakeholders. The company is enthusiastic about the opportunities that this acquisition creates for collaboration, innova- tion, and growth. Davis-Standard, LLC www.davis-standard.com Air Emissions Projects Completed Orion announced it has completed upgrading its air emissions control technology at all four of its U.S. car- bon black plants – the biggest sustainability-related initiative in the company’s history. The company re- cently finished its final air emissions project at its plant in Belpre, Ohio. Previously, the company upgraded its Borger, Texas; Ivanhoe, Louisiana; and Orange, Texas, facilities. The upgrades were part of an initiative from the U.S. Environmental Protection Agency that applied to all carbon black producers in America. The projects were especially challenging for Orion because it has more carbon black plants in the U.S. than any other compa- ny. Despite suffering from contractor issues, COVID-19 and supply-chain disruptions, Orion finished its projects ahead of some of its competitors. “Our difficult journey to make our facilities run clean - er is now completed,” Orion CEO Corning Painter said. “Looking forward, we are entering an exciting new era as we focus more on investing in profitable growth, re - ducing debt and returning value to shareholders.” “Central to our growth strategy, Orion will continue to invest in sustainability-linked projects,” Painter add- ed. “This will include producing conductive materials for lithium-ion batteries and developing products for the circular economy.” With a slower recovery in end markets and downtime as a result of Orion’s final EPA project, the company expects 2023 results to land at the lower end of its Ad- justed EBITDA guidance range of $330 million to $340 million. While demand is recovering, it is building slower than expected in many markets. “We are projecting our fourth year in a row of earn- ings growth in 2024 and expect the rate to be similar to 2023, which was a mid-single digit EBITDA increase,” Painter said. Orion S.A. orioncarbons.com