Under force majeure, Olin's epoxy resin business performance in the first quarter remained outstanding

On April 27, Olin announced the results for the first quarter of 2021:

• Net income of 243.

  
  

• The quarterly adjusted EBITDA reached a record US$540.

  
  

• The ECU profit contribution index increased by 39% compared with the fourth quarter.

  
  

Net income reported for the first quarter of 2021 was US$243.

Scott Sutton, Chairman, President and CEO of the company said: "The performance of our team in the first quarter proves the success of our unique work model, which is'value first', and highlights our chemical and Winchester businesses.

Olin promoted continuous improvement in the price of chlorine and almost all chlorine derivatives (including epoxy resins) in the first quarter of 2021.

Olin’s recently announced price increases for chlorine, epichlorohydrin, epoxy resin, bleach, ethylene dichloride, chlorinated organics, and sodium hydroxide are forecast to make a positive contribution.

We expect that with the turnover of the epoxy resin repair plan in the second quarter of 2021, maintenance costs and unabsorbed fixed manufacturing costs will continue to rise to approximately US$40 million.

Epoxy resin department performance

In early 2021, the U.

In the first quarter of 2021, epoxy resin sales were 662.