Olin Corporation announced that it had decided to cease operations of its Trichloroethylene (Tric) and Anhydrous Hydrogen Chloride (AnHCl) liquefaction facilities in Freeport, TX, before the end of 2021.
These actions are expected to be cash flow accretive. Olin expects to incur approximately $2 million of restructuring charges in 2021 associated with these plans.
“The actions taken today further our efforts to ensure we purposefully allocate capital spending and Olin people assets towards lifting ECU (Electrochemical Unit) returns. As Olin transitions our industry-leading feedstock position to supply next-generation, environmentally sustainable refrigerants, we will exit the production of Tric, which is used to produce traditional refrigerants. For AnHCl, we remain interested in serving key high-value end-use applications; however, current returns do not justify the operating costs and required reinvestment capital. Olin remains committed to the Freeport, Texas community, our employees, and our customers,” said Scott Sutton, president and chief executive officer.
Olin Corporation is a vertically-integrated global manufacturer and distributor of chemical products and a U.S. manufacturer of ammunition through its Winchester business unit.
Photo courtesy Olin Corporation
