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Powder Bulk Solids Staff
March 16, 2021
1 Min Read
Image courtesy of Olin Corporation
Clayton, MO-based Olin Corporation revealed plans Tuesday to permanently shut down 50% of its diaphragm-grade chlor alkali capacity at its McIntosh, AL plant by the end of this month as part of on-going efforts to reconfigure its asset base.
“This is yet another step in Olin’s efforts to right-size our asset base and achieve reinvestment economics across our complete Electrochemical Unit portfolio,” said Scott Sutton, president and chief executive officer of Olin, in a release. “Shareholders can expect Olin to continue to take high-capital, non-accretive assets off our balance sheet as existing contractual supply obligations end, focusing our Olin teammates and resources toward unleashing Olin’s true value potential.”
The company said it expects its first quarter 2021 results to include $5 million of restructuring charges related to the shutdown of the assets.
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