According to the European Rubber Journal, CEO Corning Painter of Eurolon Company stated that the company has completed the upgrade and renovation project of exhaust utilization and emission facilities to achieve a cleaner production environment. He expressed optimism about the future, stating that the company is entering an exciting new era, increasing investment, focusing on profit growth, debt reduction, and creating value for shareholders. Painter added that as the core of its growth strategy, Eurolon will continue to invest in various projects related to sustainable development, including the production of conductive materials for lithium-ion batteries and the development of circular economy products.
Eurolon anticipates that due to the slow recovery of the end-user market and the suspension of production caused by the completion of the Environmental Protection Agency's (EPA) upgrade project, the company's operating performance in 2023 may be at the lower end of the expected range, with an EBITDA of $330 million to $340 million. Despite the market demand recovering, the growth rate in many application markets is much slower than expected.
Painter stated, "We expect to achieve profit growth for the fourth consecutive year in 2024, with a growth rate similar to that of 2023, approximately 5% of EBITDA profit."