Ken Lane, President and Chief Executive Officer, said, "Late in the quarter, our Chlor Alkali Products and Vinyls was impacted by a meaningful decline in chlorine demand as well as operational issues at our Freeport, Texas site related to a planned turnaround and interruption of raw material supply by a third party. Our Freeport, Texas site has returned to normal operations. In spite of these challenges, the Olin Team remains focused on operating our assets safely, delivering on our cost reduction targets and maintaining our disciplined value-first commercial approach."
COMPANY DESCRIPTION
Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartridges, and clay targets.
Visit www.olin.com for more information on Olin Corporation.
NON-GAAP FINANCIAL MEASURES
Olin's definition of Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is net income (loss) plus an add-back for depreciation and amortization, interest expense (income), income tax expense (benefit), other expense (income), restructuring charges (income), and certain other non-recurring items. Adjusted EBITDA is a non-GAAP financial measure. Management believes that this measure is meaningful ...
