Olin Corporation (NYSE: OLN) has announced the lifting of its systemwide force majeure on chlor-alkali products, which was declared on July 10, 2024. The force majeure was implemented due to a temporary disruption at its Freeport, Texas operations caused by Hurricane Beryl. With the announcement, chlor-alkali and derivative production has been reinstated, signaling a return to normal operations.
It's important to note that Olin's epoxy business is still in the process of restarting its aromatics assets, which remain under force majeure. Despite this, the company remains committed to the safe and reliable operation of its assets.
Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products, including chlorine, caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Additionally, the company is a prominent U.S. manufacturer of ammunition, with Winchester's principal facilities producing and distributing a range of ammunition products.
This development marks a significant milestone for Olin Corporation as it seeks to resume full operations following the impact of Hurricane Beryl. Following these announcements, the company's shares moved -2.0%, and are now trading at a price of $43.35. For the full picture, make sure to review Olin's 8-K report.
