Olin Shuts Down More Chlor Alkali Production
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|Olin Announces Further Chlor Alkali Capacity Reduction|
|CLAYTON, Mo., May 18, 2021 — Olin Corporation (NYSE: OLN) announced today that it plans to permanently shut down approximately 20% of its diaphragm-grade chlor alkali capacity (approximately 225,000 ECU tons) at its Plaquemine, LA facility. The closure is expected to be completed by June 1, 2021 and is expected to be cash flow accretive. “This is the next step on our path to exit high-capital, low-return diaphragm ECUs and redirect Olin’s cash generation model toward our transformative Parlaying and Structuring phases,” remarked Scott Sutton, Olin Chairman, President, and Chief Executive Officer. “Earlier this year we shut down 200,000 diaphragm ECU tons at our McIntosh, AL facility, and the previously announced shut down of 230,000 diaphragm ECU tons at our Freeport, TX facility will occur in the second quarter of 2021, as well.”|
COMPANY DESCRIPTIONOlin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, and hydrochloric acid. Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.