CLAYTON, Mo., Sept. 27, 2019 /PRNewswire/ -- Olin Corporation (OLN) announced today that its ammunition division, Olin Winchester, LLC ("Winchester"), has been selected by the U.S. Army to operate and manage the Lake City Army Ammunition Plant in Independence, Missouri. Following a one-year transition period, Winchester will assume full operational control of the Lake City plant on October 1, 2020. The contract has an initial term of seven years and may be extended by the U.S. Army for up to three additional years.
"Winchester is honored to have been selected by the Army to operate, maintain and modernize this unique, strategic asset of the U.S. Government's munitions industrial base," said Brett Flaugher, President of Winchester. "Our team is fully prepared and 100% committed to the safe, reliable, and responsible operation of Lake City, in the best interest of and service to the U.S. Military."
Winchester is one of the world's most recognizable and respected brands. Currently in its 153rd year of operation and 89th year as part of Olin, Winchester is a premier developer and manufacturer of small-caliber ammunition for sale to domestic and international militaries, law enforcement agencies, and commercial distributors and retailers. Winchester has been providing ammunition to the U.S. Military since World War I and is currently the U.S. Army's largest producer of small-caliber ammunition outside of the Lake City plant. Winchester's manufacturing operations are located in East Alton, Illinois and Oxford, Mississippi, with an international distribution facility in Geelong, Victoria, Australia.
ABOUT LAKE CITY
The Lake City plant, which began production in 1941, provides small-caliber military ammunition for both training and combat purposes. Winchester previously operated the Lake City facility from 1985-2000. The plant, encompassing nearly 4,000 acres, also serves as a national and regional test center for ammunition performance and weapons firing.
For information regarding Winchester's Lake City operations visit https://lakecity.winchester.com/.
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small-caliber military ammunition and components, and industrial cartridges.
Visit www.olin.com for more information on Olin.
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- the cyclical nature of our operating results, particularly declines in average selling prices in the chlor alkali industry and the supply/demand balance for our products, including the impact of excess industry capacity or an imbalance in demand for our chlor alkali products;
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- new regulations or public policy changes regarding the transportation of hazardous chemicals and the security of chemical manufacturing facilities;
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- the effects of any declines in global equity markets on asset values and any declines in interest rates used to value the liabilities in our pension plan;
- unexpected litigation outcomes;
- adverse changes in international markets, including economic, political or regulatory changes;
- weak industry conditions affecting our ability to comply with the financial maintenance covenants in our senior credit facility;
- failure to attract, retain and motivate key employees;
- our substantial amount of indebtedness and significant debt service obligations;
- costs and other expenditures in excess of those projected for environmental investigation and remediation or other legal proceedings;
- our long range plan assumptions not being realized causing a non-cash impairment charge of long-lived assets; and
- adverse conditions in the credit and capital markets, limiting or preventing our ability to borrow or raise capital.
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