Olin close part chlor-alkali facility in Canada

Olin to close part of chlor-alkali facility in Canada

7:40 AM, 13th December 2014
Olin to close part of chlor-alkali facility in Canada

CLAYTON, US: Olin Corporation announced plans to permanently close the portion of its Becancour, Quebec, Canada facility that has been shut down since late June 2014. This action reduces the facility’s chlor alkali capacity by 185,000 tonne. The plant will predominately focus on bleach and hydrochloric acid, which are value-added products, as well as caustic soda.

Because of this decision, Olin will incur approximately $10 million of additional pretax restructuring charges in fourth quarter of 2014. These charges include asset write-offs, employee related costs and contract terminations. This restructuring charge was not included in the fourth quarter 2014 earnings guidance provided on 23 October 2014.

 

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