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

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.Image Source: Zacks Investment ResearchOEC’s Zacks Rank and Key PicksOEC 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. Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Methanex Corporation (MEOH): Free Stock Analysis Report Orion S.A. (OEC): Free Stock Analysis Report Ingevity Corporation (NGVT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks