Olin ( NYSE: OLN ) said on Wednesday today that it plans to permanently shut down ~225K ECU tons of diaphragm-grade chlor-alkali capacity at its Freeport, Texas, plant by the end of this year.
Following the closure, Olin ( OLN ) said it will have rationalized more than 1M ECU tons of diaphragm-grade chlor-alkali capacity in less than two years.
"These actions demonstrate our commitment to lift and maintain our ECU values, while developing a more sustainable asset configuration," the company said.
Olin ( OLN ) recently reported Q2 adjusted earnings of $2.76/share on revenues of $2.62B .
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Olin to cut chlor-alkali capacity