Olin Corporation
An American manufacturer of chlor-alkali chemicals, epoxy and vinyl materials, and Winchester ammunition.
Last updated November 4, 2026
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Overview
Olin Corporation is a United States-based industrial manufacturer whose principal activities are organized around three businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. Its chemical operations produce chlorine, caustic soda, hydrogen, hydrochloric acid, bleach, chlorinated organic compounds, vinyl-related products, epoxy materials, and epoxy precursors. Its Winchester business manufactures and sells small-caliber ammunition and retains ownership of the Winchester ammunition brand, while firearms and certain other Winchester-branded activities have historically been conducted through licensees or separate companies. The company traces its roots to 1892, when Franklin Walter Olin established the Equitable Powder Company in Niagara Falls, New York, to supply explosives to coal mines and limestone quarries. The business expanded into cartridges in 1898 and gradually added paper, lead shot, primers, cartridge brass, fiber wads, and brass manufacturing. Olin and his sons, John and Spencer, consolidated these activities into the Western Cartridge Company, which became a major competitor to Remington and Winchester. Wartime ammunition contracts, particularly during the First and Second World Wars, substantially enlarged the business. Western acquired Winchester in 1931 and combined the two operations in 1935 as Winchester-Western. In 1944 the family’s industrial interests were placed under Olin Industries, Inc. The group operated or supported major wartime facilities, including the St. Louis Arsenal, Badger Army Ammunition Plant, and Lake City Army Ammunition Plant. After the Second World War, Olin expanded beyond ammunition. A pivotal development was its combination with Mathieson Chemical Corporation, another business with roots dating to 1892 and a strong position in chlorine and caustic soda. The companies merged in 1954 to form Olin Mathieson Chemical Corporation, creating a diversified industrial group with domestic and international plants and interests ranging from chemicals and plastics to batteries, metals, construction products, sporting goods, and pharmaceutical holdings. The company adopted the name Olin Corporation in 1969 and subsequently pursued a long period of divestitures and restructuring. It sold or separated many unrelated businesses and increasingly concentrated on ammunition, brass, and chlor-alkali products. In 1978, its Winchester division was convicted of violating the United States arms embargo on South Africa. In 1980, Olin sold the Winchester firearms business to employees under the name U.S. Repeating Arms Company but retained the Winchester trademark and licensed it for firearms and other activities. Olin also separated its specialty-chemicals business as Arch Chemicals in 1999 and sold its brass operations in 2007. The chemical portfolio expanded materially in 2007 through the acquisition of Pioneer Companies. The largest modern transformation occurred in 2015, when Olin acquired major Dow Chemical chlorine, vinyl, chlorinated-organics, and epoxy businesses, as well as Dow’s interest in a Dow Mitsui chlor-alkali joint venture. The transaction made Olin a significantly larger chlor-alkali and epoxy producer and tied its operations more closely to the United States Gulf Coast chemical industry. Olin’s operations have also involved environmental, workplace-safety, and regulatory controversies. Historical chlorine and mercury contamination associated with Mathieson operations in Saltville, Virginia, led to Superfund involvement. The company’s McIntosh, Alabama, facility has faced scrutiny over mercury-era operations, asbestos exposure allegations, chlorine releases, and a 2010 caustic-soda release. Other facilities have experienced chlorine leaks and ongoing soil or groundwater remediation. These issues form an important part of the company’s industrial history, although Olin remains an active manufacturer. In the late 2010s and early 2020s, Olin reduced or reconfigured selected production capacity, closed certain Texas facilities, and shut down part of its diaphragm-grade chlor-alkali production at McIntosh. In 2020, Scott M. Sutton was selected to succeed John E. Fischer as president and chief executive officer, with Fischer becoming executive chairman. In 2022, Olin announced a joint venture with Plug Power to develop green-hydrogen production in Louisiana. The company’s present identity is therefore that of a focused but diversified industrial producer, combining large-scale chlor-alkali and epoxy chemistry with a longstanding ammunition franchise under the Winchester name.
History
Olin Corporation developed from two industrial lineages established in 1892. Franklin Walter Olin founded the Equitable Powder Company in Niagara Falls, New York, initially supplying blasting materials to mines and quarries. The business entered cartridge production in 1898 and built an integrated ammunition platform by adding paper, primers, lead shot, fiber wads, cartridge brass, and its own brass-making capacity. Franklin Olin and his sons John and Spencer consolidated these interests as Western Cartridge Company. Its expansion placed it in direct competition with Remington and Winchester, while wartime demand enabled substantial growth. Western acquired Winchester in 1931 and merged the businesses in 1935. In 1944, Olin’s operating companies were organized under Olin Industries. During the Second World War, the group was involved in major United States ammunition and weapons production, including activities connected with the St. Louis Arsenal, Badger Army Ammunition Plant, and Lake City Army Ammunition Plant. The company’s postwar strategy broadened considerably. Mathieson Chemical Corporation, whose origins lay in chlorine and alkali production at Saltville, Virginia, had accumulated interests in pharmaceuticals, plastics, cellophane, mining, automotive products, and other sectors. Olin Industries and Mathieson merged in 1954, producing Olin Mathieson Chemical Corporation, a large diversified manufacturer with dozens of domestic and foreign facilities. The combined company manufactured chemicals, batteries, plastics, metals, construction products, sporting goods, ammunition, and other products. It also held or developed interests connected with pharmaceutical and consumer businesses. The broad portfolio created scale but also left the company exposed to uneven performance across unrelated industries. After the corporate name changed to Olin Corporation in 1969, management progressively sold, licensed, spun off, or otherwise separated many activities. The company’s Winchester division experienced quality and competitive pressures after management changes in the 1960s, and the firearms business was later separated from Olin’s retained ammunition and trademark interests. In 1978, Olin became the first United States corporation prosecuted for violations of the arms embargo involving South Africa and was convicted over Winchester rifle sales to private dealers there. In 1980, Olin sold the Winchester firearms operation to employees under U.S. Repeating Arms Company, while keeping ownership of the Winchester brand and licensing it. European Winchester ammunition activities were also sold or licensed to GIAT. Olin later transferred ball-propellant production to General Dynamics’ St. Marks Powder and spun off its specialty-chemicals business as Arch Chemicals in 1999. The company subsequently concentrated more heavily on ammunition, chlor-alkali products, and related industrial chemicals. Winchester production was gradually shifted from East Alton, Illinois, to Oxford, Mississippi, beginning with rimfire ammunition in 2004 and later including load, pack, and centerfire operations. In 2006, Olin entered a licensing arrangement with Browning for Winchester-branded rifles and shotguns. Olin’s acquisition of Pioneer Companies in 2007 strengthened its chemical platform, while the sale of the brass division in the same year represented another step toward portfolio focus. The decisive modern expansion came from Olin’s 2015 combination with major Dow Chemical chlorine, vinyl, chlorinated-organics, and epoxy businesses. The transaction also included Dow’s full interest in a Dow Mitsui chlor-alkali joint venture and made Olin a much larger global supplier of chlor-alkali and epoxy materials. Subsequent years included capacity reductions, facility closures, workforce changes, and the reconfiguration of selected plants in response to market conditions. In 2020, Scott M. Sutton became president and CEO, succeeding John E. Fischer. Environmental and safety liabilities have accompanied portions of Olin’s chemical history. Mathieson’s historical operations at Saltville released mercury-related contaminants into the surrounding environment, and the site became a federal Superfund location. Olin facilities in Alabama, Louisiana, Illinois, and elsewhere have been subject to investigations, cleanup programs, public complaints, leaks, or regulatory attention. These matters coexist with continuing investment in chemical production and newer initiatives, including a 2022 green-hydrogen project with Plug Power in Louisiana. Olin today remains an active public industrial company centered on chlor-alkali products, vinyls, epoxy materials, and Winchester ammunition.
- 2022
Green-hydrogen joint venture announced
[1]Olin and Plug Power announced plans for a Louisiana green-hydrogen production venture.
- 2020
Scott Sutton becomes CEO
[1]Scott M. Sutton succeeded John E. Fischer as president and chief executive officer.
- 2015
Dow chemical-business combination completed
[1]Olin acquired major Dow chemical businesses in chlor-alkali, vinyls, chlorinated organics, and epoxy.
- 2007
Pioneer acquisition and brass divestiture
[1]Olin agreed to acquire Pioneer Companies and sold its worldwide brass and metals operations.
- 1999
Specialty chemicals spun off
[1]Olin separated its specialty-chemicals business into Arch Chemicals, Inc.
- 1980
Winchester firearms business sold
[1]Olin sold the firearms operation to employees as U.S. Repeating Arms Company while retaining the Winchester brand and licensing rights.
- 1978
Arms-embargo conviction
[1]The Winchester division was convicted in connection with rifle sales involving private dealers in South Africa during the United States arms embargo.
- 1969
Company adopts Olin Corporation name
[1]The corporate group became known as Olin Corporation and began a long divestiture and restructuring program.
- 1954
Merger with Mathieson Chemical
[1]Olin Industries and Mathieson Chemical merged to form Olin Mathieson Chemical Corporation.
- 1952
Chlorine plant opened in McIntosh
[1]Olin opened a chlorine plant in McIntosh, Alabama; its original mercury-based process later became associated with groundwater contamination concerns.
Products and positioning
A large North American industrial producer combining chlor-alkali and downstream chemical manufacturing with a legacy ammunition business.
Industrial chemicals
Chlor-Alkali Products
Olin produces core chlor-alkali chemicals including chlorine, caustic soda, and hydrogen, generally through the electrolysis of salt. These materials are basic inputs for water treatment, pulp and paper, plastics, solvents, disinfectants, and numerous manufacturing processes. The company also supplies hydrochloric acid, bleach and hypochlorite products, and other downstream chemicals. Chlor-alkali has become one of Olin’s central industrial platforms and is manufactured across a network of facilities in the United States and Canada.
Performance materials · 2015
Epoxy
Olin’s epoxy business supplies epoxy materials and precursors used in coatings, adhesives, composites, electrical and electronic applications, infrastructure, transportation, and industrial manufacturing. The portfolio expanded substantially through the 2015 acquisition of Dow’s global epoxy business. Epoxy materials are valued for adhesion, chemical resistance, durability, and mechanical performance, allowing the business to serve specialized industrial applications rather than only commodity chemical markets.
Industrial chemicals · 2015
Vinyls and Chlorinated Organics
This business includes vinyl-related materials and chlorinated organic chemicals acquired and integrated through the Dow transaction. Products support plastics, solvents, coatings, refrigerants, intermediates, and other industrial value chains. The portfolio is linked operationally to Olin’s chlor-alkali system because chlorine and caustic soda are important feedstocks for many downstream chemical products.
Ammunition · 1898
Winchester Ammunition
Winchester is Olin’s long-standing ammunition brand. The business produces and markets rimfire, centerfire, shotshell, and other ammunition products for sporting, hunting, law-enforcement, military, and consumer markets. Olin retains ownership of Winchester ammunition even though firearms and some other Winchester-branded activities have historically been handled through licensees. Production was progressively shifted from East Alton, Illinois, to Oxford, Mississippi, including rimfire and later centerfire operations.
Controversies
2016
Plaquemine chlorine leak
A chlorine leak at an Olin facility located on Dow Chemical property near Plaquemine, Louisiana, led to evacuation of the Dow plant.
2007
McIntosh asbestos and chlorine-safety allegations
Reports concerning the McIntosh, Alabama, plant alleged unsafe asbestos handling and inadequate worker protection. The facility was also associated with recurring chlorine releases and community concerns about disclosure of incidents.
1978
South Africa arms-embargo violation
Olin’s Winchester division was convicted for selling rifles to private dealers in South Africa during the United States arms embargo. The matter involved disputed representations about the destinations of exported firearms.
1924
Saltville muck-dam disaster
Before Olin acquired Mathieson, a dam failure at the Saltville, Virginia, chemical operation sent water, mud, mercury, and alkali through the Holston River valley. The disaster killed 19 people and became part of the site’s long industrial and environmental legacy.
Brand decisions
2022
Develop green-hydrogen project with Plug PowerOtherBackground
Olin sought to use its chemical infrastructure and hydrogen capabilities in a lower-carbon energy project.
Action taken
Olin formed a joint venture with Plug Power intended to produce approximately 15 tons of green hydrogen per day at a Louisiana plant.
Aftermath
The project was described as targeting operation in 2023; later operating results are not established by the supplied material.
2021
Reduce diaphragm-grade chlor-alkali capacityStrategyBackground
Olin continued to adjust its chemical manufacturing footprint and production economics.
Action taken
The company shut down half of its diaphragm-grade chlor-alkali production at McIntosh, Alabama.
Aftermath
The decision reduced capacity at the facility while Olin continued operating its broader chlor-alkali network.
2015
Combine with Dow’s chlorine and epoxy businessesM&ABackground
Olin and Dow pursued a large-scale combination to create a broader chlor-alkali, vinyl, chlorinated-organics, and epoxy platform.
Action taken
Olin acquired Dow’s United States Gulf Coast chlor-alkali and vinyl operations, global chlorinated-organics and epoxy businesses, and Dow’s full interest in a Dow Mitsui chlor-alkali joint venture.
Aftermath
Olin became a substantially larger global chemical producer, with projected revenue of about $7 billion at the time of the announcement.
Projected combined revenue. Approximately $7 billion (2015 transaction announcement)
2007
Acquire Pioneer CompaniesM&ABackground
Olin sought to strengthen its position in chlor-alkali products and related chemical markets.
Action taken
Olin agreed to acquire Pioneer Companies for approximately $414 million.
Aftermath
The combination made Olin the third-largest chlorine producer in the United States, according to the reference material.
Transaction value. $414 million (2007 announcement)
1999
Spin off Arch ChemicalsStrategyBackground
Olin was reducing the breadth of its diversified industrial portfolio and concentrating on selected core activities.
Action taken
The company separated its specialty-chemicals business as Arch Chemicals, Inc.
Aftermath
Olin placed greater emphasis on ammunition, brass, and chlor-alkali operations before later divesting brass as well.
1980
Separate Winchester firearms from ammunitionStrategyBackground
Declining Winchester firearms performance and the company’s broader portfolio restructuring prompted Olin to change its ownership model.
Action taken
Olin sold the firearms business to employees under U.S. Repeating Arms Company while retaining the Winchester trademark and licensing it.
Aftermath
Olin continued to operate Winchester as an ammunition brand while firearms activities proceeded through licensees.
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