Olin expects $57M in charges in Q1 due to closure of Cumene facility

Olin announced that it has made the decision to cease operations at its Cumene facility in Terneuzen, Netherlands and solid epoxy resin production at its facilities in Gumi, South Korea and Guaruja, Brazil. Olin’s Q1 results are forecast to include approximately $57M of restructuring charges associated with these plans of which approximately $15M of these restructuring charges represent non-cash asset impairment charges. The cash component of these charges is expected to be paid over the next three years.