Olin’s Earnings Decline on Pending Metals Sale

Olin reported third-quarter earnings from continuing operations of $32.7 million (44 cts/share), down 35% compared to the same period last year. Sales from continuing operations were up 27%, to $350.3 million.  The recent quarter includes results from Pioneer, which Olin acquired in August (CW, May 30/June 6, p.8). Olin’s $2.1-billion metals business is listed as a discontinued operation, pending sale of the unit to Global Brass and Copper Holdings (CW, Oct. 24, p.10). Chlor-alkali segment earnings were $70.7 million, a 12% increase over last year...

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