Orion (OEC) Accelerates Battery Innovation With New German Center
Orion S.A. OEC, a global specialty chemicals company, has inaugurated its Battery Innovation Center in Germany, marking a significant expansion to support the rapidly growing lithium-ion battery industry, which plays a pivotal role in the global shift towards electrification.
Situated at Orion's primary innovation hub in Cologne, this cutting-edge facility has state-of-the-art production, testing, and diagnostic equipment. Its primary purpose is to expedite Orion's custom product and process development efforts in close collaboration with its valued customers.
The potential for conductive additives is immense. The company is committed to delivering innovation and leveraging its global production network to meet the needs of battery manufacturers. Establishing the new Battery Innovation Center reinforces Orion's position as an industry leader. Furthermore, this battery laboratory will enhance the company’s extensive partnerships with universities, customers, and other stakeholders within the battery industry.
Orion is also establishing a dedicated division for its battery business, led by Dr. Adrian Steinmetz, who brings extensive expertise in business development and leadership roles in specialty chemicals and will serve as the global vice president for conductive additives. Dr. Amaury Augeard will also lead the technical team within the Battery Innovation Center with his expertise in industrial lithium-ion battery technologies.
With a facility in France, Orion currently stands as the sole producer of acetylene-based conductive additives in Europe. Notably, the company is in the process of constructing a similar plant in La Porte, TX, which will become the exclusive facility of its kind in the United States. This Texas site is poised to quadruple Orion's manufacturing capacity for acetylene-based conductive additives, a high-demand product among lithium-ion battery manufacturers.
Orion’s shares have gained 52.9% in the past year compared with the industry's 18.7% rise in the same period.
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Zacks Rank & Key Picks
Orion currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the basic materials space are WestRock Company WRK and Hawkins, Inc. HWKN, both sporting a Zacks Rank #1 (Strong Buy), and Alamos Gold Inc. AGI, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The earnings estimate for Westrock’s current year is pegged at $3.02. In the past 60 days, WRK’s current-year earnings estimate has been revised upward by 29%. WRK beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 30.7%. The company’s shares have rallied 11.6% in the past year.
The consensus estimate for Hawkins’ current-year earnings is pegged at $3.40, indicating year-over-year growth of 18.9%. In the past 60 days, HWKN’s current-year earnings estimate has been revised upward by 32.3%. HWKN beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have rallied 58% in the past year.
The earnings estimate for Alamos’ current year is pegged at 43 cents, indicating a year-over-year growth of 53.6%. The Zacks Consensus Estimate for AGI current-year earnings has been revised 7.5% upward in the past 60 days. The company’s shares have risen roughly 85% in the past year.
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