(RTTNews) - Olin Corp. (OLN) said that it plans to permanently shut down a chlor alkali plant with a capacity of 230,000 tons and its Vinylidene Chloride production facility, both in Freeport, Texas. It expects to complete the closures before the end of 2020.
When completed, it is expected to reduce Olin's annual operating costs by about $35 million.
The company noted that its fourth quarter 2019 results will contain about $65 million of pretax non-cash restructuring charges, representing asset impairment charges, associated with these plans.
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