CLAYTON,
Mo., Feb. 8, 2024 /PRNewswire/ -- Olin
Corporation (NYSE: OLN), a leading global Epoxy customer solution
provider, has been named co-winner of the 2024 Global Innovation
Award by JEC Composites (Journées Europèennes des Composites) in
the Renewable Energies category as part of the Circular Economy for
Thermoset Epoxy Composites (CETEC) project. Olin partnered with
Vestas Wind Systems A/S (Denmark),
Aarhus University (Denmark), Danish Technological Institute
(Denmark), and Stena Recycling
(Denmark and Sweden) on this project.
"We are honored to receive the 2024 Innovation Award from JEC
Composites for this novel sustainability solution which enables the
recycling of materials from wind blades," remarked Verghese Thomas, Vice President, Epoxy Systems
and Chief Sustainability Officer at Olin. "We value and appreciate
the validation this innovation has received not only from JEC, but
from the industry and our customers around the world."
Our awarded solution employs a novel chemical process which
breaks down epoxy resin into virgin-grade materials, establishing a
circular economy for wind blades, ensuring today's blades serve as
raw materials for future blades. Olin will now focus on scaling up
this proprietary chemical process into a commercial solution. Once
mature, this innovation offers the potential to make all
epoxy-based composite material a source of raw material for a
broader circular economy, encompassing industries beyond wind
energy.
Olin, as the global expert on Epoxy within CETEC, is proud to be
the only manufacturer of epoxy resin to achieve this unprecedented
proprietary innovation. Olin's many years of expertise in the
production and development of epoxy technologies is key to the
overall success of this innovation. Our integration into upstream
raw materials makes us the ideal partner to take this solution to
scale. We are excited about the sustainability impact and business
value this technology offers and look forward to bringing this
innovation to market in a few years.
The CETEC project was established as a cooperation between
industry and academia and completely funded by the partners and
Innovation Fund Denmark.
The JEC World Global Innovation Award is a highly prestigious
award in the composites industry that recognizes the world's most
innovative composites projects and the most fruitful collaborations
between the various players in the value chain. Every year, the JEC
Innovation Awards recognize innovative, collaborative, and
impactful projects that demonstrate the full potential of composite
materials.
OLIN COMPANY DESCRIPTION
Olin Corporation is a leading vertically integrated global
manufacturer and distributor of chemical products and a leading
U.S. manufacturer of ammunition. The chemical products produced
include chlorine and caustic soda, vinyls, epoxies, chlorinated
organics, bleach, hydrogen, and hydrochloric acid. Winchester's
principal manufacturing facilities produce and distribute sporting
ammunition, law enforcement ammunition, reloading components, small
caliber military ammunition and components, industrial cartridges,
and clay targets.
Visit www.olin.com for more information on Olin.
FORWARD-LOOKING STATEMENTS
This communication includes forward-looking statements. These
statements relate to analyses and other information that are based
on management's beliefs, certain assumptions made by management,
forecasts of future results, and current expectations, estimates
and projections about the markets and economy in which we and our
various segments operate. The statements contained in this
communication that are not statements of historical fact may
include forward-looking statements that involve a number of risks
and uncertainties.
We have used the words "anticipate," "intend," "may," "expect,"
"believe," "should," "plan," "outlook," "project," "estimate,"
"forecast," "optimistic," "target," and variations of such words
and similar expressions in this communication to identify such
forward-looking statements. These forward-looking statements
include, but are not limited to, statements regarding the Company's
intent to repurchase, from time to time, the Company's common
stock. These statements are not guarantees of future performance
and involve certain risks, uncertainties, and assumptions, which
are difficult to predict and many of which are beyond our control.
Therefore, actual outcomes and results may differ materially from
those matters expressed or implied in such forward-looking
statements. We undertake no obligation to update publicly any
forward-looking statements, whether as a result of future events,
new information or otherwise. The payment of cash dividends is
subject to the discretion of our board of directors and will be
determined in light of then-current conditions, including our
earnings, our operations, our financial conditions, our capital
requirements and other factors deemed relevant by our board of
directors. In the future, our board of directors may change our
dividend policy, including the frequency or amount of any dividend,
in light of then-existing conditions.
The risks, uncertainties and assumptions involved in our
forward-looking statements, many of which are discussed in more
detail in our filings with the SEC, including without limitation
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2022, and
our Quarterly Reports on Form 10-Q and other reports furnished or
filed with the SEC, include, but are not limited to, the
following:
Business, Industry and Operational Risks
- sensitivity to economic, business and market conditions in
the United States and overseas,
including economic instability or a downturn in the sectors served
by us;
- declines in average selling prices for our products and the
supply/demand balance for our products, including the impact of
excess industry capacity or an imbalance in demand for our chlor
alkali products;
- unsuccessful execution of our strategic operating model, which
prioritizes Electrochemical Unit (ECU) margins over sales
volumes;
- failure to control costs and inflation impacts or failure to
achieve targeted cost reductions;
- our reliance on a limited number of suppliers for specified
feedstock and services and our reliance on third-party
transportation;
- the occurrence of unexpected manufacturing interruptions and
outages, including those occurring as a result of labor
disruptions, production hazards and weather-related events;
- availability of and/or higher-than-expected costs of raw
material, energy, transportation, and/or logistics;
- the failure or an interruption of our information technology
systems;
- failure to identify, attract, develop, retain and motivate
qualified employees throughout the organization and ability to
manage executive officer and other key senior management
transitions;
- our inability to complete future acquisitions or joint venture
transactions or successfully integrate them into our business;
- risks associated with our international sales and operations,
including economic, political or regulatory changes;
- the negative impact from a public health crisis, such as a
pandemic, epidemic or outbreak of infectious disease, including the
COVID-19 pandemic and the global response to the pandemic,
including without limitation adverse impacts in complying with
governmental mandates;
- our indebtedness and debt service obligations;
- weak industry conditions affecting our ability to comply with
the financial maintenance covenants in our senior credit
facility;
- adverse conditions in the credit and capital markets, limiting
or preventing our ability to borrow or raise capital;
- the effects of any declines in global equity markets on asset
values and any declines in interest rates or other significant
assumptions used to value the liabilities in, and funding of, our
pension plans;
- our long-range plan assumptions not being realized causing a
non-cash impairment charge of long-lived assets;
Legal, Environmental and Regulatory Risks
- changes in, or failure to comply with, legislation or
government regulations or policies, including changes regarding our
ability to manufacture or use certain products and changes within
the international markets in which we operate;
- new regulations or public policy changes regarding the
transportation of hazardous chemicals and the security of chemical
manufacturing facilities;
- unexpected outcomes from legal or regulatory claims and
proceedings;
- costs and other expenditures in excess of those projected for
environmental investigation and remediation or other legal
proceedings;
- various risks associated with our Lake City U.S. Army
Ammunition Plant contract and performance under other governmental
contracts; and
- failure to effectively manage environmental, social and
governance (ESG) issues and related regulations, including climate
change and sustainability.
All of our forward-looking statements should be considered in
light of these factors. In addition, other risks and uncertainties
not presently known to us or that we consider immaterial could
affect the accuracy of our forward-looking statements.
2024 - 02
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SOURCE Olin Corporation
