ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Dow, Olin Ink Chlorine Deal

by Alexander H. Tullo
October 12, 2015 | APPEARED IN VOLUME 93, ISSUE 40

Dow Chemical has completed the sale of its chlorine and derivatives business to Olin. Olin has taken over Dow’s chlor-alkali plants in Freeport, Texas, and Plaquemine, La., as well as its epoxy resins and chlorinated organics businesses. Dow is receiving a total of $4.6 billion worth of cash, Olin stock for its shareholders, and liability reduction. In connection with the deal, Dow has designated two directors to serve on Olin’s board: William H. Weideman, Dow’s former chief financial officer, and Carol A. Williams, who served as a special adviser to Dow CEO Andrew N. Liveris. With this transaction, Dow has divested $12 billion worth of businesses in the past two years, ahead of its goal of more than $8 billion. The deal will hugely expand Olin into a roughly $7 billion-per-year company, up from $2.2 billion last year. Olin expects the combination to generate $200 million in cost savings.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment