Olin Corp Joins Anti-Dumping Complaint

By Bobby Samwell • Tuesday, July 02 02:12 • Permanent Link

Olin Corporation (NYSE: OLN) has announced its participation in an anti-dumping complaint lodged by a coalition of epoxy resin producers against China, the Republic of Korea, Taiwan, and Thailand. The complaint alleges that these countries have been selling their epoxy resin products in the European Union (EU) market at unfairly low prices, significantly undercutting the prices of European producers. The European Commission has initiated an anti-dumping proceeding in response to the complaint, with alleged dumping margins during the investigation period as follows:

China: 140% * 170%
The Republic of Korea: 10% * 40%
Taiwan: 20% * 40%
Thailand: 60% * 90%

Epoxy resins are essential components for various customer applications, including critical industries such as aerospace, automotive, defense, electrical transmission, semiconductors, and wind energy. The European producers in the coalition, including Olin Corporation, manufacture epoxy resins for these applications.

The company's president, Florian Kohl, emphasized the negative impact of what is believed to be unfairly dumped imports of epoxy resin on the EU, and highlighted ongoing investigations into similar unfair trade practices in the United States by the U.S. Department of Commerce and the U.S. International Trade Commission.

If successful, the investigation will ensure that foreign epoxy resin producers cannot continue to benefit from sending dumped epoxy resins to the EU market. It aims to restore the health of the EU epoxy resin industry, improve the resilience and security of domestic epoxy resin supply chains, enhance jobs and communities reliant on the epoxy resin industry, and strengthen European economic security by preserving a critical EU manufacturing sector.

Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products, producing chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Additionally, it is a leading U.S. manufacturer of ammunition. Following these announcements, the company's shares moved -1.3%, and are now trading at a price of $46.52. Check out the company's full 8-K submission here.

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