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Business

Olin Buying Out Chlorine Partner

by Alexander H. Tullo
March 7, 2011 | APPEARED IN VOLUME 89, ISSUE 10

Chlorine and ammunition maker Olin has bought out its 50-50 partner PolyOne in the SunBelt chlor-alkali joint venture. The purchase price is $132 million in cash plus the assumption of PolyOne guarantees related to the partnership’s $85 million in debt. SunBelt has the capacity to make 350,000 metric tons of chlorine and 385,000 metric tons of caustic soda per year at its McIntosh, Ala., plant. With the acquisition, Olin’s chlorine capacity reaches 2.15 million metric tons.

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