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Article: Olin to buy rival, become top producer of bleach.
- Article from:
- St. Louis Post-Dispatch (St. Louis, MO)
- Article date:
- May 22, 2007
CopyrightCOPYRIGHT 2007 St. Louis Post-Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Christopher Boyce
May 22--Olin Corp. announced Monday that it had agreed to acquire Pioneer Cos. Inc., a Houston-based competitor to its chlor-alkali business, for $418 million in cash. The deal will make Clayton-based Olin the largest maker of industrial bleach in North America.
If approved by Pioneer shareholders, the acquisition is expected to close during the second half of the year. Olin will finance Pioneer's purchase through debt.
Chlor-alkali manufacturing is a process that produces several chemicals, including chlorine, caustic soda and hydrochloric acid.
Olin also makes Winchester ammunition and copper products, such ...