So as many of you may know, our company has been organized into four segments, based on the different business models of each segment. The Core segment sells rubber blacks for use in tires and other industrial rubber applications. In this business, we’re really more focused on competitive dynamics, cost position and industry structure.
The Performance segment on the other hand sells specialty carbon blacks and specialty fumed silicas for use in a wide array of applications such as adhesives, sealants, coatings, plastics, toners, and polishing slurries. These specialty applications are focused more on the customer, applications development, new products, and in understanding and capturing the value and use for our materials.
Our Specialty Fluids Segment sells cesium formate drilling fluids for oil and gas wells. We developed this unique ultra-niche product where we serve our customers primarily through a rental model as opposed to a sales model. And finally the New Business Segment has a variety of businesses with unique products that are sold into various high-growth industries. In this segment, we are focused on profitable growth through the commercialization of newer technologies.
Our vision is to deliver earnings growth through leadership and performance materials. To support this vision, we are focused on four key strategic levers. They are first, margin improvement, which includes things like yield improvement, value pricing, portfolio optimization and new energy efficiency technologies. The second key lever is capacity expansion, where we are well underway on a number of announced expansions across our segments around the world.
The introduction of new products is the third key element to this specialty chemicals business, and we have a focus on technology, innovation and application development across all our segments. And finally, portfolio management, where we are really focused on projects that will ensure the portfolio of our businesses, we operate fit with our core competencies, and have leading technologies and market positions.
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