Olin Corp. announced today that it plans to cut chlor alkali production at its McIntosh plant by 50%, or about 200,000 tons, with closure expected by the end of this month.
“This action is expected to be cash flow accretive. Olin’s first quarter 2021 results are forecast to include approximately $5 million of restructuring charges associated with this plan,” the Missouri-based company said in announcing the change.
The McIntosh plant is just north of Mobile, along the Tombigbee River.
“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,” remarked Scott Sutton, president and CEO of the major chemical company. “Shareholders can expect Olin Corp 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.”
