Rain Carbon Realigns Product Portfolio
Rain Industries Limited a leading global producer of carbon-based products, announces that it has revised its reporting segments to include Carbon and Advanced Materials. 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.”
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.”
“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. "