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
