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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Olin's Net Income Falls on Pre-Tax Charge; Chlor-Alkali Segment Posts Strong Results
8:11 AM MST | February 1, 2011 | Lindsey Bewley
Olin reported fourth-quarter 2010 net income of $2.0 million, or 2 cts/share, down about 91% from the year-ago quarter. Results were impacted by a previously announced pretax restructuring charge of $34.2 million, reflecting the company’s plan to exit the use of mercury cell technology in the chlor-alkali manufacturing process by the end of 2012. Chlor-alkali segment net income sextupled from the year-ago period, to $36.5 million, on higher prices and higher volumes, while sales were up 21% from the fourth-quarter of 2009, to $272.7 million. ...
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