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Olin Second Quarter Report: Epoxy Shipments Down Sales Revenue Shrinks by $121 Million!

 Last Update: 2020-10-06
 Source: Internet
 Author: User

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Olin recently announced its second quarter 2020 results on its website, with sales of $1,241.2 million in the second quarter of 2020, and shipments of epoxy resins decreased due to downstream impact.john E. Fischer, chairman, president and chief executive of
, said: "The merger of chlor-alkali products and the vinyl and epoxy business resulted in sales in the second quarter of 2020 down about 27% year-on-year. "The epoxy business in the second quarter of 2020 compared to the first quarter of 2020, due to weak demand from automotive, oil and gas and industrial coatings customers in Europe and North America, shipments of epoxy resins decreased by approximately % in the second quarter of 2020 compared to the first quarter."
epoxy business
sales of epoxy resins in the second quarter of 2020 were $397.4 million, up from $518.8 million in the second quarter of 2019. The decrease in epoxy sales was mainly due to lower epoxy sales and lower product prices. The decrease in epoxy division earnings was mainly due to lower product prices and lower epoxy sales, partially offset by lower raw material costs (mainly benzene and propylene).
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