Olin buys caustic soda group KA Steel Chemicals
8/24/2012 12:00:00 AM
Olin Corp. completed the acquisition of privately-held K. A. Steel Chemicals (KA Steel) for $328 million in cash, the company said on Friday.
Olin, a US-based chlor-alkali producer, said it will utilize proceeds from a recently-completed $200 million senior notes offering and cash on hand to finance the acquisition.
KA Steel, headquartered in Lemont, Illinois, is one of the largest distributors of caustic soda in North America and one of the leading bleach manufacturers in the Midwest.
During the third quarter of 2012, Olin expects to expense approximately $8 million of transaction costs related to the acquisition.
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