FREEPORT — Olin’s Freeport site should not experience any job losses as a result of closing two plants next year, a company official said.
“Following cessation of production, Olin will redeploy employees from these two facilities across the Freeport site,” Logan Bonacorsi, Olin director of investor relations, said by email Thursday.
The company announced Wednesday it will permanently shutter two plants in Freeport, a 230,000-ton chlor-alkali plant and a vinylidene chloride facility. Olin is the world’s largest producer of chlor-alkali products and chlorine derivatives, and the closures will reduce its capacity by less than 5 percent, according to the company.
Olin is the third-largest private-sector employer in Brazoria County with 1,200 employees, according to the most recent survey by the Economic Development Alliance for Brazoria County. Only Dow Chemical and the Wood Group employ more, and Wood Group also provides contractors to Olin.
The expected closures, announced Wednesday, follow a softening market for those facilities’ products that hurt the company’s third-quarter performance, Olin Chairman, President and CEO John Fischer said in October.
Olin reported the decline in chlor-alkali products and vinyls business during its third-quarter results conference call Nov. 1, citing a lower demand from urethane, agricultural, refrigerant, alumina, and pulp and paper customers.
The company expects the closures to reduce Olin’s annual operating costs by approximately $35 million, the news release states.