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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Olin's Earnings Fall on Low Operating Rate and Weak Demand
8:37 AM MST | January 26, 2010 | Lindsey Bewley
Olin reported fourth-quarter 2009 net income of $21.8 million (28 cts/share), down about 54% from the year-ago period. Sales were down 19%, to $350.9 million, compared to the third quarter of 2008. Chlor-alkali segment earnings were $5.2 million, a 94% decrease over last year. Sales were down 28%, to $224.9 million, reflecting lower prices and seasonally weak demand. “Volumes for caustic soda and chlorine declined 8% in the fourth quarter of 2009 compared to the third quarter of 2009, but were similar to fourth quarter 2008 levels,” says Joseph...
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