CLAYTON,
Mo., Feb. 5, 2025 /PRNewswire/ -- Olin
Corporation (NYSE: OLN) announced that its Winchester division, in
collaboration with the U.S. Army's Joint Program Executive Office
for Armaments and Ammunition (JPEO A&A) and Joint Munitions
Command (JMC), celebrated the groundbreaking of the new 6.8mm
Ammunition Facility at the Lake City Army Ammunition Plant (LCAAP).
This facility is part of the Next Generation Squad Weapons (NGSW)
Program and represents a significant step in the Army's
modernization efforts.
Ken Lane, Olin President & CEO, noted during his
remarks at the event, "Olin
Winchester has a rich history in ammunition manufacturing
excellence and support of the U.S. Military. We are proud to build
on this American legacy through this opportunity to partner with
the U.S. Army to construct this transformational facility and bring
new capabilities to the Warfighter."
The ceremony featured remarks from Ken
Lane, Maj. Gen. John T. Reim,
Joint Program Executive Officer for Armaments and Ammunition, and
Brett Flaugher, President of
Winchester. Liz Miranda, U.S.
Army Material Command's (AMC) Executive Deputy to the
Commanding General, Brigadier General Ronnie Anderson, Commander of the Joint
Munitions Command (JMC), Staff from Congressman Sam Graves and Senator Eric Schmitt's office, and other federal, state,
and local representatives were among the more than 100 special
guests in attendance.
"This facility will represent a significant step forward in
equipping our Soldiers with the advanced munitions they need to
maintain overmatch on the battlefield," noted Maj. Gen.
John T. Reim. "With 90% of the work
supported by industries in the Kansas
City region and nearly 50 local businesses involved in the
construction, this project will strengthen the defense industrial
base, create well-paying jobs, and drive economic growth in the
local community. Lake City has been central to our nation's
ammunition production since 1941, and this facility builds on that
proud and historic legacy."
The 450,000 square foot advanced ammunition production facility
will be capable of manufacturing all components of 6.8mm ammunition
as well as finished rounds for the U.S. military, reinforcing the
iconic legacy of LCAAP and its vital role in national defense.
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 Corporation and
www.winchester.com to learn more about Winchester Ammunition.
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 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, 2023, 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 operating model, which
prioritizes Electrochemical Unit (ECU) margins over sales
volumes;
- 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;
- 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
and production hazards;
- exposure to physical risks associated with climate-related
events or increased severity and frequency of severe weather
events;
- availability of and/or higher-than-expected costs of raw
material, energy, transportation, and/or logistics;
- the failure or an interruption, including cyber-attacks, of our
information technology systems;
- 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;
- 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.
2025-04
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SOURCE Olin Corporation
