Olin to sell metals division for $400m

15 October 2007 23:26  [Source: ICIS news]

HOUSTON (ICIS news)--Olin, a business that includes the production of chlor-alkali products, metals and ammunition, said it plans to sell its metals business to a subsidiary of Global Brass and Copper Holdings for $400m (€284m), the company said on Monday.

The sale, which was expected to close in the fourth-quarter of this year, includes all of Olin’s worldwide metals operations, including its manufacturing facilities in East Alton, Illinois; Montpelier and Bryan, Ohio; Waterbury, Connecticut; and Cuba, Missouri, as well as its A. J. Oster metals service centres.

The metals business in 2006 generated revenues and segment income of $2.1bn and $58m, respectively, Olin said.  The company said it expected to report a quarterly loss of $140m in conjunction with the sale.

Olin’s chlor-alkali segment produces chlorine and caustic soda, sodium hydrosulphite, hydrochloric acid, hydrogen, potassium hydroxide and bleach products.

Global Brass and Copper Holdings is an affiliate of KPS Capital Partners.

($1.00 = €0.71)

By: Brian Ford
+1 713 525 2653

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