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Olin lifts force majeure for product shipments from Freeport, Texas

October 03/2017

MOSCOW (MRC) -- Olin Corporation has announced that it is lifting the Force Majeure declared on Aug. 31 for all product shipments, except phenol, acetone, methyl chloride, methylene chloride and chloroform, from its Freeport, Texas facility, as per Hydrocarbonprocessing.

Olin was forced to reduce production at the facility due to supply and logistic constraints from truck, railroad and marine transportation caused by severe flooding resulting from Hurricane Harvey.  Olin's third quarter 2017 adjusted EBITDA will be reduced by approximately USD40 MM representing incremental costs to continue operations, unabsorbed fixed manufacturing costs and reduced profit from lost sales.

Isolated transportation, raw material and customers' issues will continue to be experienced in both the Chlor Alkali Products and Vinyls and Epoxy segments into Q4 2017.  The impact on Q4 2017 adjusted EBITDA is expected to be significantly less than Q3 2017 impact.

As MRC informed before, Dow Chemical and Olin Corporation completed their chlor-alkali, chlorinated organics and epoxy asset merger at the beginning of the third quarter 2015 and appointed new executives to the combined company that began operations under the Olin umbrella.

Olin Corporation manufactures chemicals and ammunition products. The Company manufactures and sells chlorine, caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products, and potassium hydroxide. Olin also manufactures products that include sporting ammunition, reloading components, small caliber military ammunition and industrial cartridges.
Author:Margaret Volkova
Tags:PC, acetone, bisphenol A, kausticheskaya soda, phenol, sheet extrusion, Dow, Olin Corporation, USA.
Category:General News
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