Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Olin's Earnings Skyrocket on Improved Sales and SunBelt Acquisition
9:00 AM MDT | April 29, 2011 | Lindsey Bewley
Olin announced first quarter net income of $133.7 million ($1.66/share), compared to $14.1 million in the year-ago period on increased pricing and sales volumes in its chlor-alkali segment, as well as a one time pretax, non-cash gain of $181.4 million associated with the acquisition of PolyOne’s 50% interest in the companies’ SunBelt chlor-alkali joint venture. Chlor-alkali earnings quadrupled, to $45.2 million, on higher volumes and higher prices. Sales were up 29.8% from the first quarter of 2010, to $299.4 million, while chlorine and caustic...
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