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10-K primary document
OEC · Annual Report (Form 10-K) · Filed February 17, 2026

Orion SA — 10-K exhibit

a2026-02x17ex211listofsubs.htm
Orion SA on Boardroom Alpha
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Exhibit 21.1
List of Subsidiaries
The following entities are included in the Group consolidated financial statements as subsidiaries or joint ventures at December 31, 2025.
Shareholding
Controlled entities
Orion Engineered Carbons LLC, Spring, USA (Principal Executive Office)100 %
Orion Engineered Carbons USA Holdco, LLC, Spring, US100 %
OEC Finance US LLC, Spring, USA100 %
Orion Engineered Carbons Ltda., Paulinia, Brazil99.99 %
Orion Engineered Carbons Holdings GmbH, Eschborn, Germany100 %
Orion Engineered Carbons Bondco GmbH, Eschborn, Germany100 %
Orion Engineered Carbons GmbH, Eschborn, Germany100 %
Orion Engineered Carbons International GmbH, Eschborn, Germany100 %
Orion Engineered Carbons IP Verwaltungs GmbH, Monheim am Rhein, Germany100 %
Orion Engineered Carbons IP GmbH & Co. KG, Monheim am Rhein, Germany100 %
Orion Engineered Carbons Holdco S.R.L., Milano, Italy100 %
Orion Engineered Carbons S.r.l., Ravenna, Italy100 %
Orion Engineered Carbons Holdoco S.A.S., Ambes, France100 %
Orion Engineered Carbons S.A.S., Ambès, France100 %
Orion Engineered Carbons France SAS; Berre-l'Etang; France100 %
Norcarb Engineered Carbons Holdco AB., Malmö Sweden100 %
Norcarb Engineered Carbons AB, Malmö, Sweden100 %
Orion Engineered Carbons Sp. z o.o., Jaslo, Poland100 %
Orion Engineered Carbons Turkey, Istanbul, Turkey100 %
Orion Engineered Carbons Proprietary Limited, Port Elizabeth, South Africa100 %
Orion Korea, Co., Ltd., Yeosu-si, South Korea100 %
Orion Engineered Carbons KK, Tokyo, Japan100 %
Orion Material Technology (Shanghai) Co., Ltd., Shanghai, China100 %
Orion Engineered Carbons Qingdao Co., Ltd., Qingdao, China100 %
Orion Engineered Carbons (Huaibei) Co., Ltd, Huaibei, China100 %
Orion Engineered Carbons (China) Investment Co., Ltd, Shanghai, China100 %
Orion Engineered Carbons Pte. Ltd., Singapore, Singapore100 %
Orion Engineered Carbons India Private Limited, Thane West, India100 %
Associated entities
Kommanditgesellschaft Deutsche Gasrusswerke GmbH & Co., Dortmund, Germany54.35 %
Deutsche Gasrusswerke Gesellschaft mit beschränkter Haftung, Dortmund, Germany50.00 %
Alpha Carbone SAS, Brevans, France0.85 %
Although we hold 54.35% of shares as of December 31, 2025 and 2024 in Kommanditgesellschaft Deutsche Gasrusswerke GmbH & Co., Dortmund, Germany (“DGW KG”) and 50% of shares as of December 31, 2025 and 2024 in Deutsche Gasrusswerke Gesellschaft mit beschränkter Haftung, Dortmund, Germany, per shareholder resolution Orion agreed to generally limit its use of voting rights in DGW KG to 50%. Therefore DGW KG is recognized as a joint venture applying the equity method.

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