2023-03-21 16:24:56 ET
Olin ( NYSE: OLN ) said Tuesday it will cease operations at its Cumene facility in the Netherlands and epoxy resin production at its plants in Gumi, South Korea and Guaruja, Brazil.
Olin ( OLN ) said its epoxy business continues to experience weak global epoxy demand and excess supply availability.
The company said Q1 results will include $57M in restructuring charges associates with the closure, of which $15M represent non-cash asset impairment charges.
Thanks to mostly positive trends across the company's segments, Olin ( OLN ) is far more attractive than only a few months ago, Wolf Report writes in an analysis posted recently on Seeking Alpha .
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Olin to close epoxy plants as part of ongoing restructuring