Increased focus on raw materials required by customers for 21st century applications
STAMFORD, Connecticut, June 21, 2018 /PRNewswire/ -- Rain Carbon Inc., a leading global producer of carbon-based products, announces that it has revised its reporting segments to include Carbon and Advanced Materials, effective January 1, 2018. The shift from Chemicals to Advanced Materials reflects the company's increasing focus on transforming by-products of its coal tar and petrochemical feedstock distillation activities to produce raw materials that support high-growth products of the future.
"Realigning business segments will allow our company to increase focus on newly developed products that offer environmental benefits to our customers as well as those that are serving the needs of certain high-growth areas," said Rain Carbon President Gerry Sweeney. "The shift to Advanced Materials allows us to place greater emphasis on premium products such as CARBORES® and PETRORES®, which are used in specialty applications such as lithium-ion batteries and energy storage."
The Company re-aligned its products along with the new segments, moving some from the Carbon segment to Advanced Materials (see chart below). "Revising our reporting segments provides a more accurate representation of our business and strategic focus moving forward," Sweeney said.
Consistent with the change in reporting segments, Rain Carbon will be evaluating its existing product portfolio to ensure that it has the right product mix and that its offerings support the Company's increased focus on high-growth areas.
"We have a strategic commitment to provide forward-looking customers with the raw materials they need to be successful and that they should expect from an Advanced Materials producer," Sweeney said. "At the same time, this transition should stimulate new strategic initiatives and market offerings to further improve our performance."
Sweeney added that the new segment and its potential for growth in no way diminishes the Company's commitment to its Carbon business.
"Our Carbon and Advanced Materials strategy is very much integrated and co-dependent," he said. "Our increased focus on petrochemical distillation over the last several years provides more product for our Carbon segment in a raw materials-challenged market, while providing additional feedstock for our Advanced Materials growth strategy. We remain firmly committed to the Carbon segment of our business, and are excited about the opportunities our Advanced Materials strategy can provide."
About Rain Carbon Inc.
Rain Carbon Inc. is a leading vertically integrated global producer of carbon-based and advanced material products that are essential raw materials for staples of everyday life. We operate in two business segments: Carbon and Advanced Materials. Our Carbon business segment converts the by-products of oil refining and steel production into high-value, carbon-based products that are critical raw materials for the aluminum, graphite electrode, carbon black, wood preservation, titanium dioxide, refractory and several other global industries. Our Advanced Materials business segment extends the value chain of our carbon processing through the innovative downstream transformation of a portion of our carbon output, petrochemicals and other raw materials into high-value, eco-friendly and advanced-material products that are critical raw materials for the specialty chemicals, coatings, construction, automotive, petroleum and several other global industries. We have longstanding relationships with most of our major customers, including several of the largest companies in the global aluminum, graphite electrode and specialty chemicals industries, and with most of our major raw material suppliers, including several of the world's largest oil refiners and steel producers. Our scale and state-of-the-art process sophistication provides us the flexibility to capitalize on market opportunities by selecting from a wide range of raw materials, adjusting the composition of our product mix and producing products that meet exacting customer specifications, including several environmentally preferred and specialty products. Our production facility locations and integrated global logistics network also strategically position us to capitalize on market opportunities by addressing raw material supply and product demand on a global basis in both established and emerging markets. For more information, visit www.raincarbon.com.
SOURCE Rain Carbon Inc.