Olin selling urethane and low profile additive businesses.

Olin selling urethane and low-profile additives businesses

Olin Corp., Stamford, Conn., has signed a letter of intent to sell its Uralloy low-profile additives business to Ashland Chemical, Inc., Columbus, Ohio. The sale excludes Uralloy products manufactured in Japan by Olin's joint-venture partner. Once the purchase is finalized, the business will become part of the automotive business group of Ashland Chemical's Composite Polymers Div., a major producer of unsaturated polyester resins for automotive and other applications.

* Olin has also signed letters of intent to sell four urethanes businesses as part of its corporate streamlining program. BASF Corp., Parsippany, N.J., will purchase certain assets of Olin's urethane systems business in North America and Europe. These include Olin's pressurized Autofroth, Autopak, and Polysystems rigid polyurethane systems and related dispensing equipment, plus Olin's Polyflex automotive systems. Olin will henceforth focus its urethanes strategy on flexible intermediates and performance urethanes for coatings, adhesives, sealants and elastomers. Olin continues to be a major supplier of TDI and polyols and plans to bring on a new world-scale aliphatic diisocyanate plant early next year.