8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  October 1, 2007

OLIN CORPORATION

(Exact name of registrant as specified in its charter)

Virginia	1-1070	13-1872319
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	190 Carondelet Plaza, Suite 1530 Clayton, MO (Address of principal executive offices)	63105-3443 (Zip Code)
(314) 480-1400 (Registrant's telephone number, including area code)

 (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

Item 7.01.                                Regulation FD Disclosure.

In accordance with General Instruction B.2. of Form 8-K, the following information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Olin disclaims any intention or obligation to update or revise this information.

Attached as Exhibit 99.1 and incorporated herein by reference, is a copy of the slides which will be presented at the CIBC World Markets 2nd Annual Industrials Conference in New York, NY on October 2, 2007.  Copies of the presentation slides for the conference will also be available prior to the presentation to all investors, news media and the general public on Olin’s web site www.olin.com in the Investor section under Recent Press Releases and Speeches.

Item 9.01.                                Financial Statements and Exhibits.

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on October 2, 2007

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 OLIN CORPORATION

 By:           /s/ George H. Pain

  Name:           George H. Pain

         Title:             Vice President, General

Counsel and Secretary

Date:  October 1, 2007

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on October 2, 2007

EX-99.1

1

Exhibit 99.1

CIBC World Markets

2nd Annual Industrials Conference
October 2, 2007

2

Olin Representatives

Joseph D. Rupp
            

    Chairman, President and CEO

John E. Fischer
            

    Vice President & Chief Financial Officer

John L. McIntosh
            

    Vice President & President, Chlor-Alkali Products

Larry P. Kromidas
            

    Assistant Treasurer & Director, Investor Relations

lpkromidas@olin.com

(618) 258 - 3206

3

Company Overview

All financial data are for the year ending 2006 and the six months ending June 2007 and are presented in millions of U.S.
dollars except for earnings per share.  Shown above is income before taxes from continuing operations.  Additional information
is available on Olin’s websitewww.olin.com in the Investors section.

Winchester

Chlor Alkali

North American Producer of
Chlorine and Caustic Soda 

                    FY 2006  6Mo ‘07

Revenue:$666       $322

Income:  $256       $  99

North American Producer of
Ammunition

                     FY 2006    6Mo ‘07

Revenue:$374          $200

Income:  $  16          $  14

Metals

Specialty Copper-Based Products &
Related Engineered Materials

FY 2006    6Mo ‘07

Revenue:  $2,112       $1,083

Income:         $58       $     31

  Revenue:  $3,152$1,605 Pretax
Operating Inc.:$   201$ 71

EPS (Diluted):  $  2.06$ .79

Olin

   FY 2006        6Mo 2007

4

Olin Vision

To be a leading Basic Materials company delivering
attractive, sustainable shareholder returns

•Being low cost, high quality producer, and #1 or #2
supplier in the markets we serve

•Providing excellent customer service and advanced
technological solutions

•Following our customers globally where we can do it
profitably

•Generating returns above the cost of capital over the
economic cycle

5

TRS in Top Third S&P Mid Cap 400

ROCE Over Cost of Capital Over the Cycle

Olin Corporation Goal:  Superior Shareholder Returns

Olin Corporate Strategy

1.   Build on current leadership positions in Chlor-Alkali,
Metals and Ammunition

•  Improve operating efficiency and
profitability

•  Integrate downstream selectively

•  Expand globally where profitable

2.   Allocate resources to the businesses that can create the
most value

3.   Manage financial resources to satisfy legacy liabilities

6

Second Quarter 2007 Results

•Chlor Alkali operating rates at 97% during the quarter,
highest in last 10 years. Demand for both chlorine and
caustic remains strong. ECU netbacks increase from Q1

•Metals volumes decline in automotive, electronics and
building products segments, higher prices lift earnings to
$21 million including LIFO inventory liquidation gains of
$8 million

•Winchester earnings for Q2 are best since 1994 and follow
best first quarter earnings ever reflecting improved volumes
and pricing

•Earnings per diluted share of $.48 for Q2

7

Third Quarter 2007 Outlook

•Chlor Alkali expects improved ECU netbacks over Q2 offset
by higher transportation and seasonally higher electricity
costs; operating rates in mid-90% range

•Metals earnings to decline from Q2 due to normal planned
internal and customer plant shutdowns. LIFO inventory
reduction gains of $6 million expected in Q3

•Winchester earnings to improve from Q2 reflecting the
traditionally strong pre-hunting season

•Pioneer acquisition closed on August 31st

•Projected earnings per diluted share of $.40 announced on
July 27th earnings call, excludes any Pioneer impact

8

Pioneer Acquisition

•Synergistic, bolt-on acquisition that enhances our
chlor-alkali franchise

–#3 in chlor-alkali, up from #4 in North America 

–Enhancesgeographic coverage

–Improves overall cost position

–#1 in industrial bleach in North America

•Further low-cost expansion opportunities in the largest
chlorine consuming region of North America

•Immediately accretive to EPS and remains highly accretive
throughout the cycle, and the balance sheet remains strong

9

Pioneer Acquisition
(Continued)

•Purchase price of $35 per share, or about $415 million

•Pioneer cash used to repay their debt, Olin will finance
transaction through use of cash and short-term debt

•Expect to realize $20 million in synergies in the first 12
months following acquisition and $35 million annually
thereafter 

•Synergies will come from logistics, purchasing, operations
and SG&A expenses

10

Olin’s Chlor Alkali Strategy

•Be the preferred supplier to the Merchant Chlor Alkali
Market in addition to being the low cost producer

•Goal is to increase the value of the Chlor Alkali Division
to Olin Corporation through:

–Full utilization of existing capacity

–Low-cost capacity expansion

–Cost reduction and financial discipline

11

Olin Is The 3rd Largest
Producer in North America

Source:  CMAI Chlor Alkali Report 

•Olin has 1.99 Million tons ECU
Capacity Per Year (1)

 (Source: CMAI)

•A $10 / ECU Change Equates
to a $17 Million Change in
Pretax Income at Full
Capacity, or $.15 per share @
35% tax rate

(1)Includes 50% of SunBelt

12

Pioneer Acquisition Moves Olin
Up to #3 Producer and . . .

4,780

3,484

1,992

1,856

880

471

430

371

0

1,000

2,000

3,000

4,000

5,000

Dow

Occidental 

Olin

PPG

Formosa

Georgia Gulf

Bayer AG

Mexichem

Diaphragm

Membrane

Mercury

Other

13

Pioneer Chlorine Plants

Pioneer Bleach Plants

Olin Corporation

Augusta, GA

McIntosh, AL

Dalhousie, NB

St. Gabriel, LA 

Becancour, Quebec

Niagara Falls, NY

152

Henderson, NV

246

St. Gabriel, LA (2)

340

Becancour, Quebec (1)

281

Niagara Falls, NY

146

McIntosh, AL (50% Sunbelt)

270

Charleston, TN

401

McIntosh, AL

  36

1,992

Dalhousie, NB

Total

120

Augusta, GA

Chlorine
Capacity

-000- of Short Tons

(1)  Pioneer’s Becancour plant has 275,000 short tons
Diaphragm and 65,000 short tons Membrane capacity.

(2)  Pioneer’s St. Gabriel plant includes the announced
49,000 short tons capacity expansion and conversion to
membrane cell.

Source: CMAI.

Santa Fe Springs, CA

Tracy, CA

Tacoma, WA

Charleston, TN

Henderson, NV

. . . Enhances Olin’s Operational
and Geographical Platform

14

•2005 & 2006 record years, peak ECU netback in Q1‘06:

Q3’05 $515     Q1’06  $590     Q3’06  $540     Q1’07  $500

Q4’05 $545     Q2’06  $560     Q4’06  $520     Q2’07  $510

•Further Caustic price increases announced in Q2 and Q3

•Higher transportation and energy costs 

•$1 change in Natural Gas MMBTU increases costs of Natural
Gas-based producers by $25 to $35/ECU

•Natural Gas increases plus capacity reductions have created a
more favorable long-term price outlook

•North American demand growth rate of 0.8% annually

•Net North American capacity has decreased since 2000

Chlor AlkaliProducts

15

North America Chlor Alkali Forecast

North America Chlor Alkali Capacity
Reductions 2000 Through 2005

North America Chlor Alkali Capacity
Expansions 2000 Through 2005

80,000

Orrington, ME

Holtra Chem

201,000

 Baton Rouge, LA

Formosa Plastics

1,930,000

 Total Reductions

5,000

Albany, OR

Oremet

40,000

Vicksburg, MS

Cedar Chem

66,000

Acme, NC

Holtra Chem

145,000

 Delaware City, DE

OXY

198,000

Gramercy, LA

La Roche

187,000

Portland, OR

Atofina

214,000

Tacoma, WA

Pioneer

395,000

Deer Park, TX

Oxy Vinyls LP

375,000

Plaquemine, LA

Dow

Short Tons as
Chlorine

Location

Company

Source: Olin Data

Reductions1,930,000

Expansions  (382,000)

Total Reductions  1,548,000

80,000

Calvert City, KY

Westlake

22,000

Various Sites

Oxy

382,000

Total  Expansions

70,000

McIntosh, AL

SunBelt

210,000

Geismer, LA

Vulcan C-A

             Short  Tons as 
                  Chlorine

Location

Company

Annual demand growth at 0.8%/Yr = 110,000 Short Tons/Yr

Georgia Pacific

(3 locations)

24,000

16

North America Chlor Alkali Announced
Capacity Changes 2006 through 2010

North America Chlor Alkali Capacity
Announced Reductions

North America Chlor Alkali Capacity
Announced Expansions

1,326,008

 Total Reductions

280,000

Lake Charles, LA

PPG (completed)

197,000

St. Gabriel, LA

Pioneer (2009)

213,000

Taft, LA

Oxy (KOH Conv) (2008)

110,000

Charleston, TN

Olin (KOH Conv) (completed)

8

Nackawic, NB

St. Anne Chem (completed)

526,000

Ft. Saskatchewan

Dow (completed)

Short Tons as
Chlorine

Location

Company

Reductions(1,326,008)

Expansions                       2,057,010

Total Expansions     731,002

350,000

Geismar, LA

Westlake (2010)

543,000

Plaquemine, LA

Shintech (2008/2009)

246,000

St. Gabriel

Pioneer (2009)

280,000

Lake Charles, LA

PPG (completed)

2,057,010

Total  Expansions

550,000

Chocolate Bayou, TX

Shintech (2010)

88,000

Longview, WA

Equachlor (completed)

10

Nackawic, NB

AV Nackawic (completed)

Short  Tons as 

Chlorine

Location

Company

17

Olin’s Chlor Alkali Contracts

•Olin contracts nearly 100% of its chlorine and caustic
sales

•On about two-thirds of the chlorine and caustic
volumes, prices change quarterly, with a combination of
formula-based and negotiated pricing, and the balance
is renegotiated annually or semi-annually

•Many contracts have a one quarter lag in them, which
delays price increases in a tightening market and delays
decreases in a softening market

•Competitive forces dictate contract duration and terms

18

Olin Chlor-Alkali’s
Bleach Growth Strategy

•Two Tier Approach

•Organic Growth

–Bleach expansions at Olin’s four existing chlor-alkali
sites

•Acquisitions and Joint Ventures

–Pioneer purchase increases bleach output by 130 million
gallons or 95,000 ECU’s per year

•West Coast

•Canada

–Trinity Joint Venture

•Total Olin bleach output will be 200 million gallons or
146,000 ECU’s per year in 2008 

19

Metals

•Olin is the leading manufacturer of copper alloy strip,
and a leading manufacturer of brass rod in the U.S.

•Olin possesses leading technology position

–37 U.S. patents for High Performance Alloys

–40 U.S. patents on various proprietary processing and
technical capabilities

•Olin is the leading copper alloy strip distributor in the
U.S. with 8 service/distribution centers located in the
U.S. and Puerto Rico; 2 additional centers are located
in Mexico and China

20

Metals

•The average price of copper increased from $3.37/lb in
Q2’06 to $3.46/lb in Q2’07 resulting in increased metal
melting loss costs and higher working capital needs 

•Improved product pricing of 14% as compared to Q2 2006
partially offsets higher costs

•Restructuring actions from 2006 improved earnings by more
than $3 million each quarter

•Inventory reduction program adds $5.3 million to income in
Q1, $7.8 million in Q2 and expected to add $6 million to
earnings in Q3 

•Target of 20% inventory reduction over 2007-8 period

21

Products

End Uses

Winchester ® sporting ammunition -- shot-shells, small caliber centerfire & rimfire ammunition	Hunters & recreational shooters, law enforcement agencies
Small caliber military ammunition	Infantry and mounted weapons
Industrial products -- 8 gauge loads & powder-actuated tool loads	Maintenance applications in power & concrete industries, powder-actuated tools in construction industry

Winchester Products

22

Winchester

•Profits of $5.6 million reflect best second quarter since
1994.

•Nine price increases announced since the beginning of
2004 to offset higher metal prices

•Continued increase in metal prices, especially lead,
prompts 15% price increase effective September 1st by
Winchester, Remington and ATK 

•In 2007, Winchester received 3 new military orders:

1.$18 million US Army order for shotgun shells;

2.$24 million order under General Dynamics 2nd source small caliber ammunition
program; and

3.$27 million .50 caliber US Army order

23

Financial Highlights

•Q2 cash and short-term investments of $257 million
exceed outstanding debt by nearly $10 million 

•$31 million of cash generated over 1st 6 months during a
seasonally normal cash usage period 

•$180 million of voluntary pension contributions in Q3’06
($80MM) and Q2’07 ($100MM) coupled with higher
discount rate and healthy returns on plan assets reduce
pension liability to $129 million

•Recent voluntary contributions and investment policy
changes will likely lead to fully funded plan by 2011
without further contributions

24

Financial Highlights(continued)

•Q2 pension expense of $8.3 million includes a $.5 million
curtailment charge and is $2.5 million lower than Q2’06
pension expense

•Favorably settled all IRS audits through 2002 resulting in a
$22 million reduction in tax expense in 2006

•2007 effective tax rate expected to be in the 34% to 35%
range

•Capital spending levels, net of January sale leaseback
transaction, are expected to be $65 to $70 million in 2007
with 60 to 65% allocated to Chlor-Alkali

25

Investment Rationale

•Continued strong performance based on

–Relatively high ECU prices, Pioneer acquisition

–Cost reductions, better pricing, inventory liquidation
gains and restructuring in Metals

–Cost reductions, price increases and increased U.S.
Military revenue in Winchester

•Strong financial discipline

•At recent price levels, common dividend yield is
approximately 4.00% 

•323rd consecutive quarterly common dividend (80+ years)
paid on September 10th

26

Forward-Looking Statements

   This presentation contains estimates of future
performance, which are forward-looking statements
and actual results could differ materially from those
anticipated in the forward-looking statements.  Some
of the factors that could cause actual results to differ
are described in the business and outlook sections of
Olin’s Form 10-K for the year ended December 31,
2006 and in Olin’s Second Quarter 2007 Earnings
Release. These reports are filed with the U.S.
Securities and Exchange Commission.