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Chemical Week Magazine :: Basic Chemicals & Plastics
Olin Buys Pioneer; Moves Up a Notch in Chlor-Alkali Market
8:50 AM MDT | August 30, 2007 | Peck Hwee Sim
Peck Hwee Sim
In a surprise move, Olin has announced that it plans to acquire Pioneer for $35/share, about $411 million, in a deal that will bump up Olin’s position in the North American chlor-alkali market by a notch to number three, behind Dow Chemical and OxyChem. It would also make the company the top sodium hypochlorite bleach producer in North America. The transaction is expected to close in the second half of the year. “The combined companies will have a more diversified geographic footprint, a complementary bleach and hydrochloric acid [HCI] product mix...
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