Olin To Incur Additional Pretax Restructuring Charges In Q4 - Quick Facts

(RTTNews) - Olin Corp. (OLN) announced it plans to permanently close the portion of its Becancour, Quebec, Canada facility that has been shut down since late June 2014. The company's action reduces the facility's chlor alkali capacity by 185,000 tons. The plant will predominately focus on bleach and hydrochloric acid, which are value-added products, as well as caustic soda.

The company reported that, because of this decision, it will incur approximately $10 million of additional pretax restructuring charges in fourth quarter of 2014. The charges include asset write-offs, employee related costs and contract terminations. The company noted that the restructuring charge was not included in its fourth-quarter earnings guidance provided on October 23, 2014.