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Tennessee Governor Phil Bredesen today joined with Economic and Community Development Commissioner Matt Kisber in congratulating the board of directors and senior management of Missouri-based Olin Corporation for the company’s decision to invest $160 million in new technology at Olin’s Charleston, Tennessee plant. Olin will expand the production of potassium hydroxide at the facility, preserving 350 jobs while ending the plant’s use of mercury cell technology in 2012.
“I’m grateful for the confidence Olin has shown in its Tennessee workforce and in the business climate of Tennessee,” said Governor Bredesen. “This is a great example of the state partnering with an existing business to develop the conditions for expansion and additional capital investment.”
Olin’s Tennessee facility is adjacent to the planned site of Wacker Chemie’s $1 billion polysilicon production facility and Olin will be a supplier of chlorine to Wacker as well as other major customers throughout the region.
“We’ve predicted that ‘anchor’ projects like Wacker would have a positive impact on existing Tennessee companies,” said Commissioner Kisber. “Olin’s announcement is proof positive that focusing economic development efforts up and down the supply chain can both create and retain jobs.”
“As a result of today’s announcements, we will be eliminating our use of mercury cell technology in 2012,” said Joseph D. Rupp, Chairman, President and Chief Executive Officer of Olin Corporation. “The new Charleston plant will employ the most modern membrane technology, have lower operating costs, and will produce higher quality products. Over the past eighteen months we have experienced a steady increase in the number of our customers unwilling to accept our products manufactured using mercury cell technology. The conversion of the Charleston facility, which in addition to chlorine and caustic soda also produces potassium hydroxide, hydrochloric acid, and bleach, will prevent the potential loss of these valuable customers.”
“We are expanding our KOH capacity at Charleston with the potential to add even more production in the near future,” said Frank Chirumbole, President, Olin Chlor Alkali Products. “This is good news for our customers and the Charleston community. The Charleston plant is ideally suited to continue meeting the needs of our customers.”
Olin’s investment in the Charleston plant also is expected to generate hundreds of construction and related jobs. Construction will likely begin in the second quarter of 2011 and be completed by the end of 2012.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to create higher skilled, better paying jobs for all Tennesseans. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go to www.tn.gov/ecd or www.investtennessee.org.
About Olin
Olin Corporation is a manufacturer concentrated in two business segments: Chlor Alkali Products and Winchester. Chlor Alkali Products manufactures chlorine and caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, potassium hydroxide and bleach products. Winchester products include sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. For more information, please go to www.olin.com.
