Olin Sells Metal Business — Retains Winchester Ammunition Operations
Olin Corporation (NYSE: OLN), makers of Winchester Ammunition, announced today that it signed a definitive agreement to sell its Metals business to a subsidiary of Global Brass and Copper Holdings, Inc., an affiliate of KPS Capital Partners, LP, for a purchase price of $400 million. The sale includes all of the Company’s worldwide Metals operations, including its manufacturing facilities in Illinois, Ohio, Connecticut, and Missouri, as well as its A. J. Oster metals service centers. The sale is expected to close in the fourth quarter of 2007.
Olin will continue its Winchester Ammunition operation, which supplies Winchester® sporting ammunition, canister powder and reloading components to recreational shooters worldwide and to military and law enforcement agencies.
