EU restricts imports of carbon black from Russia in new sanctions
Due to the war in Ukraine, the EU now adopts new sanctions against Russia. Among other things, an import quota for synthetic rubber and carbon black will be imposed immediately, a step ahead of the total import ban that will apply after 1 July 2024. In March 2022, Enviro could already see an increased interest in the company's recycled carbon black because of the war, which the company has also communicated.
“How the impact of the sanctions affect Enviros business cannot be assessed at this time, but many companies are reviewing their long-term risks related to the supply of materials from different countries. It is important that the market is informed that we are monitoring developments now that companies in the EU are potentially experiencing a limited supply of carbon black," says Thomas Sörensson, CEO of Enviro.
The EU decision, announced on 25 February 2023, introduces import quotas of a maximum of 562,973 tonnes of synthetic rubber and 752,475 tonnes of carbon black, with immediate effect, writes the European Rubber Journal.
Russia, Ukraine, and Belarus produce a significant proportion of all carbon black used in Europe, according to a US market research firm. At the same time, Europe wants to reduce its dependence on Russian oil, and since oil is a raw material in the production of carbon black, this could also affect supply.
Almost immediately after the Russian invasion in 2022, Enviro noticed an increased interest from existing and new customers to receive supplies of recycled carbon black and recycled oil, so-called pyrolysis oil.
For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733-14 97 00, alf@blomqvistunlimited.com
Mangold Fondkommission AB is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
Scandinavian Enviro Systems AB
Frihamnen 16B, SE-417 70 Gothenburg
info@envirosystems.se
envirosystems.se/
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
Scandinavian Enviro Systems contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. The production of new tires using carbon black recovered with Enviro’s technology reduces carbon dioxide emissions by up to 93 per cent compared with the use of virgin carbon black. Enviro has its head office in Gothenburg and a plant for the recycling of end-of-life tires in Åsensbruk. The largest owner is the French tire manufacturer Michelin. Enviro was founded in 2001 and is listed on Nasdaq First North Growth Market. www.envirosystems.se
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