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):  March 18, 2008

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 (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 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 BB&T Capital Markets Manufacturing & Materials Conferencein New York, NY on March 19, 2008. 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 Investors section under Investor Presentations.

Item 9.01.                                Financial Statements and Exhibits.

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on March 19, 2008

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:  March 18, 2008

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on March 19, 2008

EX-99.1

1

Exhibit 99.1

BB&T

2008 Manufacturing and
Materials ConferenceMarch 19, 2008

2

Olin Representatives

Joseph D. Rupp

Chairman, President & Chief Executive Officer

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

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

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

4

Total Return to Shareholders in Top Third of S&P Mid Cap 400

Return on Capital Employed Over Cost of Capital Through the Cycle

Olin Corporation Goal:Superior Shareholder Returns

Olin Corporate Strategy

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

•Improve operating efficiency and profitability

•Integrate downstream selectively

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

3.Manage financial resources to satisfy legacy liabilities

5

Impact of Strategic Actions
The New Olin

•Revenue is lower, but profits are expected to improve

–During last four months of 2007, profit distribution from
Pioneer exceeded full year Metals profit distributions

–Gross Margin as a percent of Sales has improved about 100%

•Overall net debt position has improved

•On-going investment in working capital reduced

•Volatility of investment in working capital has been
significantly reduced

•Defined benefit pension plan expense of $44 million in
2006 and $34 million in 2007 will be income in 2008

6

Olin’s Chlor Alkali Strategy

•Be the preferred supplier to merchant chlor
alkali customers in addition to being the low
cost producer

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

–Optimizing capacity utilization

–Higher margin downstream products

–Cost reduction and financial discipline

7

Pioneer Acquisition

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

–#3 chlor-alkali producer in North America

–#1 chlor-alkali merchant producer in North America

–#1 in industrial bleach in North America

–Enhancesgeographic coverage

•Provides the opportunity for low-cost expansion in the
largest chlorine consuming region in North America

•Immediately accretive to earnings and remains highly
accretive throughout the cycle

•The Olin balance sheet remains strong

8

Pioneer Acquisition
(Continued)

•Purchase price of $426 million

•$5 million of synergies realized in Q4, expect to realize
$20 million annual run rate by the end of Q2 2008, ahead
of original schedule, and $35 million annually thereafter

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

•Announced closure of 36,000 short-ton Dalhousie plant
expected to save Olin $8 to $10 million annually

•St. Gabriel expansion/conversion expected to:

–Increase capacity by 49,000 tons

–Reduce annual energy costs by approximately $20 million

–Reduce salt cost of approximately $10 million annually with
conversion to a brine system

9

Pioneer

’

s Acquisition moves Olin up to #3 Producer and

…

Chlorine Capacities

Source: CMAI/Olin

0

1,000

2,000

3,000

4,000

5,000

Dow

Occidental

Olin*

PPG

Formosa

GGC

Bayer AG

Mexichem

Diaphragm

Membrane

Mercury

Other

4,780

3,484

1,955

1,856

880

471

430

371

* Includes

St.Gabriel

expansion and Dalhousie shutdown

10

…

Enhances Olin

’

s Operational and Geographical Platform

39

Pioneer Chlorine Plants

Pioneer Bleach Plants

Source: /Olin

Tacoma, WA

Tracy, CA

Santa Fe Springs, CA

Henderson, NV

St. Gabriel, LA

McIntosh, AL

Augusta, GA

Charleston, TN

Niagara Falls, NY

Becancour

, Quebec

Olin Chlorine & Bleach Plants

1,955

Total

108

Augusta, GA

152

Henderson, NV

160

McIntosh, AL(50%

Sunbelt)

246

St. Gabriel, LA

(2)

248

Charleston, TN

286

Niagara Falls, NY

340

Becancour

, Quebec

(1)

415

McIntosh, AL

1,955

Total

108

Augusta, GA

152

Henderson, NV

160

Sunbelt)

246

St. Gabriel, LA

(2)

248

Charleston, TN

286

Niagara Falls, NY

340

Becancour

, Quebec

(1)

415

Chlorine Capacity

(

-

000 Short Tons)

Location

(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

Plant Locations

11

•Natural Gas prices and capacity reductions have created a
more favorable long-term price outlook

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

•Weaker US dollar and higher transportation costs have
significantly reduced imports

•A $10 ECU change equals a $17 million change in pretax
income at full capacity or $0.15/share at a 35% tax rate

ECU Netback Outlook

12

ECU Netback Outlook
(continued)

•First quarter caustic price announcements totaling $80
per ECU are supported by tight caustic supply

•Higher ECU netbacks are driven by caustic pricing:

2005200620072007 Caustic

NetbackNetbackNetbackAnnouncements

Q1$485$590$500$40 Com’l/$50 High Grade

Q2$505$560$510$50

Q3$515$540$540$30

Q4$545$520$555$75

13

Capacity Rationalization

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

24,000

Vicksburg, MS

(3 locations)

Cedar Chem

Georgia Pacific

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)

Net Reductions1,548,000

80,000

Calvert City, KY

Westlake

22,000

Various Sites

Oxy

382,000

TotalExpansions

70,000

McIntosh, AL

SunBelt

210,000

Geismer, LA

Vulcan C-A

ShortTons as
Chlorine

Location

Company

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

14

Announced Capacity Changes

2006 through 2010

North America Chlor Alkali Capacity
Announced Reductions

North America Chlor Alkali Capacity
Announced Expansions

213,000

Taft, LA

Oxy (KOH Conv)
(2008)

1,812,008

Total Reductions

280,000

Lake Charles, LA

PPG (completed)

197,000

St. Gabriel, LA

Olin(2009)

36,000

Dalhousie, NB

Olin (2008)

110,000

Charleston, TN

Olin (KOH Conv)
(completed)

8

Nackawic, NB

St. Anne Chem
(completed)

526,000

450,000

Ft. Saskatchewan

Freeport, TX

Dow (completed)

Dow (2011)

Short Tons
as

Chlorine

Location

Company

Reductions(1,812,008)

Expansions2,057,010

Net Expansions 245,002

350,000

Geismar, LA

Westlake (2010)

543,000

Plaquemine, LA

Shintech (2008/2009)

246,000

St. Gabriel, LA

Olin (2009)

280,000

Lake Charles, LA

PPG (completed)

2,057,010

TotalExpansions

550,000

Chocolate Bayou, TX

Shintech (2010)

88,000

Longview, WA

Equachlor (completed)

10

Nackawic, NB

AV Nackawic
(completed)

ShortTons
as

Chlorine

Location

Company

Annual demand growth at

0.8%/Yr = 110,000 Short Tons

There is speculation as to whether

the plant will be built.

15

Chlor-Alkali’s Two Tier
Industrial Bleach Growth Strategy

•Organic Growth

–Bleach expansions began at Olin’s four existing chlor-alkali
sites prior to Pioneer acquisition and have been completed

•Acquisitions and Investments

–Pioneer purchase increases bleach capacity by 145 million
gallons or 95,000 ECU’s annually and adds multiple
locations on the U.S. west coast and Canada

–Investment in 11/2007 - in a limited liability company that
owns a bleach and related chlor alkali products
manufacturing facility

•Total Olin bleach capacity for 2008 is in excess of 250
million gallons or 160,000 equivalent ECU’s

•Bleach commands a $100 to $200 price premium over
ECU selling prices

16

Winchester’s Strategy

•Leverage existing strengths

–Seek new opportunities to leverage the
legendary Winchester® brand name

–Investments that maintain Winchester as the
retail brand of choice and lower costs

•Focus on product line growth

–Continue to develop new product offerings

17

Products

End Uses

Winchester ® sporting ammunition -- shot- shell, 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

18

Winchester

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

•Latest 5% to 20% price increase effective 1/1/2008

•Other U.S. manufacturers including, Remington and
ATK, have implemented similar price increases

•Continued expansion of military and law enforcement
business now accounts for 25 - 30% of total revenue:

–Military awards of approximately $100 million in 2007

–FBI awards of $54 million each in 2007 and 2008

•Consistent developer of industry-leading ammunition:

–Six consecutive years as “Ammunition of the Year” awarded
by the Shooting Industry Academy of Excellence

19

Financial Highlights

•Ample liquidity with new five-year lines of credit
totaling $375million and cash of $333 million

•Net proceeds from the sale of the Metals business used
to redeem debt, strengthen balance sheet and provide
funds for St. Gabriel expansion

•Pioneer four-month contribution of $29 million includes
$5 million of realized synergies

•Pioneer synergy realization of $20 million annual run
rate expected by end of Q2 2008, ahead of schedule,
confident that $35 million of synergies will be realized

•With tight caustic supply, we expect the announced price
increase of $75 to be fully realized in Q1 and Q2 and are
optimistic about the recent $80 caustic announcement

20

Financial Highlights(continued)

•Improved Winchester results:

–$26.4 million segment earnings are 67% higher than 2006

–Best year since 1994

•2008 environmental charges are expected to be 25% lower than
2007

•Pension expense expected to be $25 million lower in 2008, offset
by $6 million of higher 401(k) funding

•Pension plan is now $110 million over-funded

•2008 capital spending is expected to be in the $200 to $210
million range which includes $120 million for the St. Gabriel
project expected to be completed early 2009

•2008 effective tax rate expected to be 35% - 36%

21

Investment Rationale

•Continued strong performance based on:

–Relatively high ECU prices

–Pioneer acquisition

–Cost reductions, price increases and increased U.S.
military and law enforcement revenue in Winchester

•Strong financial discipline

•At recent price levels, common stock dividend yield is
approximately 4.25%

•325th consecutive quarterly common dividend paid on
March 10th

22

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, 2007 and in
Olin’s Fourth Quarter 2007 Earnings Release.
These reports are filed with the U.S. Securities and
Exchange Commission.