US Olin completes acquisition of privately-held KA Steel for $328m

23 August 2012 10:24  [Source: ICIS news]

LONDON (ICIS)--US-based chlor-alkali producer Olin announced late on Wednesday that it has completed the previously announced acquisition of privately-held KA Steel Chemicals for $328m (€262m) in cash.

The deal was first announced on 18 July.

KA Steel, headquartered in Lemont, Illinois, is major distributor of caustic soda in North America, and a leading bleach manufacturer in the US midwest, Olin said.

Olin said it will finance the acquisition using a combination of cash on hand and a recently completed $200m senior notes offering.

($1 = €0.80)

By: Franco Capaldo
+44 (0)20 8652 3214

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