Olin Corporation Announces Acquisition of K. A. Steel Chemicals Inc.

23-Jul-2012 - USA

Olin Corporation announced that it has signed a definitive agreement to acquire privately held K. A. Steel Chemicals Inc. (KA Steel), on a cash free, debt free basis, for $328 million in cash, subject to certain post-closing adjustments.  Olin expects to finance the acquisition using a combination of cash on hand and existing borrowing facilities.  After the closing, it is our intention to finance a portion of the purchase price by issuing new senior notes.

KA Steel, headquartered in Lemont, Illinois, is one of the largest distributors of caustic soda in North America and one of the leading bleach manufacturers in the Midwest.

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