MITSF - Olin Mitsui sign MoU to launch electrochemical derivatives joint venture

Olin (NYSE:OLN) and Mitsui (OTCPK:MITSY) agreed to a memorandum of understanding to establish a joint venture that combines Mitsui's global logistics, deep supplier and customer relationships, and breadth of product portfolio with Olin's scale, North American export capability, and production flexibility across the electrochemical unit portfolio. The joint venture, which the companies expect to commence later this year, will be an independent global buyer, supplier, and marketer of ECU-based derivatives, initially focused on globally traded (blue water) caustic soda and ethylene dichloride with potential future expansion into other ECU derivatives and related products. "Olin's 130-year history in ECUs and Mitsui's 70-year history in trading and logistics creates a natural partnership that will grow Olin's parlay activities and grow Mitsui's capacity to serve on a global scale," Olin Chairman, President and CEO Scott Sutton said. Seeing the recent spike in global energy prices as favorable to Olin both in the short-

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Olin, Mitsui sign MoU to launch electrochemical derivatives joint venture