Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Olin to Cease Production of Solid Epoxy Resin at South Korea and Brazil Facilities - Coatings World

What are you searching for?

Sign in
Breaking News, Paint & Coatings Manufacturer News

Olin to Cease Production of Solid Epoxy Resin at South Korea and Brazil Facilities

Olin's first quarter 2023 results are forecast to include approximately $57 million of restructuring charges associated with said plans.

Author Image

By: Lianna Albrizio

Associate Editor

Olin Corporation announced it will cease operations at its Cumene facility in Terneuzen, Netherlands and solid epoxy resin production at its facilities in Gumi, South Korea and Guaruja, Brazil.
 
Olin’s first quarter 2023 results are forecast to include approximately $57 million of restructuring charges associated with these plans of which approximately $15 million of these restructuring charges represent non-cash asset impairment charges. The cash component of these charges is expected to be paid over the next three years.
 
“This is another step to right-size our global Epoxy asset footprint to the most cost-effective asset base to support our strategic operating model,” said Scott Sutton, Chairman, president, and chief executive officer.
 
Olin Corporation is a vertically integrated global manufacturer and distributor of chemical products. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid.
 
Olin Corporation announced it will cease operations at its Cumene facility in Terneuzen, Netherlands and solid epoxy resin production at its facilities in Gumi, South Korea and Guaruja, Brazil.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters