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Olin: Force Majeure On Louisiana Products

Chemicals and ammunition maker declared force majeure until further notice for products shipped from a Louisiana facility due to the effects of Hurricane Gustav.

DENVER (AP) -- Chemicals and ammunition maker Olin Corp. on Thursday declared force majeure until further notice for products shipped from a Louisiana facility due to the effects of Hurricane Gustav.

The Clayton, Mo.-based company said the hurricane caused minor damage at the St. Gabriel plant but operations were slow to resume because of issues with electrical power, transportation, raw materials and customer facilities.

A force majeure clause excuses a party from liability if an unforeseen event prevents it from performing its obligations under a contract.

The products that are affected by the declaration are chlorine, caustic soda and hydrogen.

Shares of Olin fell 41 cents to $22.14 in Thursday morning trading.

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