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):  September 13, 2011

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 KeyBanc Capital Markets Basic Materials and Packaging Conference in Boston on September 14, 2011.

Item 9.01.                      Financial Statements and Exhibits.

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on September 14, 2011.

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:    Senior Vice President, General Counsel and Secretary

Date:  September 13, 2011

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Presentation slides for meeting on September 14, 2011.

EX-99.1

1

KeyBanc Capital Markets

Basic Materials & Packaging
ConferenceSeptember 14, 2011

Exhibit 99.1

2

Olin Representatives

Joseph D. Rupp

Chairman, President & Chief Executive Officer

John E. Fischer

Senior Vice President & Chief Financial Officer

Larry P. Kromidas

Assistant Treasurer & Director, Investor Relations

lpkromidas@olin.com

(314) 480 - 1452

3

Company Overview

All financial data are for the quarter ending June 30, 2011 and the year ending December 31, 2010, and are presented in millions of U.S.
dollars except for earnings per share on a GAAP basis.Additional information is available on Olin’s websitewww.olin.com.

Winchester

Chlor Alkali

Third Largest North American
Producer of Chlorine and Caustic Soda

Q2 2011FY 2010

Revenue:$ 380$ 1,037

Income:$73$117

A Leading North American Producer
of Small Caliber Ammunition

Q2 2011FY 2010

Revenue:$ 149$ 549

Income:$12$63

Revenue:$529 $ 1,586

EBITDA:$96$188

Pretax Operating Inc.:$64 $77

EPS (Diluted):$.52$.81

Q2 2011FY 2010

Olin

4

Investment Rationale

•Leading North American producer of Chlor-Alkali

•Strategically positioned facilities

•Diverse end customer base

•Favorable industry dynamics

•Leading producer of industrial bleach with additional
growth opportunities

•Pioneer and SunBelt acquisition synergies improved chlor-
alkali price structure

•Winchester’s leading industry position

5

•On February 28, 2011, Olin purchased PolyOne’s 50%
interest in SunBelt for $132.3 million in cash plus the
assumption of a PolyOne guarantee related to the SunBelt
Partnership debt

•Olin and PolyOne agreed to a three-year earn out based on
the performance of SunBelt

•The SunBelt 352,000 ton membrane plant located within
Olin’s McIntosh, AL facility, which has been operated by
Olin since 1997, is now 100% owned by Olin

•Olin recorded a pretax gain of approximately $181 million
and a deferred tax expense of $76 million as a result of an
accounting remeasurement associated with the value of its
original 50% interest in the SunBelt Partnership

Acquisition of PolyOne’s
Interest in SunBelt

6

SunBelt Acquisition Benefits

•Olin expects the acquisition to be accretive to both
EBITDA and earnings in 2011

•SunBelt currently has the lowest cash manufacturing
costs in the Olin system

•SunBelt has a long-term contract for 250,000 tons of
chlorine per year

•During Q2 2011, SunBelt contributed $11.3 million of
incremental Chlor Alkali segment earnings

•Expected annual synergies of $5-10 million associated
with increased use of low cost capacity and increased
sales of membrane grade caustic soda

7

Chlor Alkali Segment

ECU = Electrochemical Unit; a unit of measure reflecting the chlor alkali process outputs
of 1 ton of chlorine, 1.13 tons of 100% caustic soda and 0.3 tons of hydrogen.

N. American
Position

% 2010
Revenue

#2

#3

#1
Industrial

#1
Merchant

#1
Burner
Grade

42%

10%

4%

11%

32%

1%

Chlor Alkali Manufacturing Process

BRINE+ELECTROLYSIS=OUTPUTS

Caustic Soda - 1.13 Tons

(Sodium Hydroxide)

(Potassium Hydroxide)

Bleach

(Sodium Hypochlorite)

Chlorine - 1 Ton

Potassium Chloride

or

Sodium Chloride

KOH - 1.59 Tons

HCl

(Hydrochloric Acid)

Hydrogen Gas - 0.3 Tons

KOH

or

Caustic Soda

Chlorine

Hydrogen

1.8 Tons Salt &

.5 Tons Water

2.8 Megawatts Electricity

8

Olin is #3 Chlor-alkali Producer

Source: CMAI/Olin - 2010 year-end figures

Oxy includes OxyVinyls, PPG excludes Equa-Chlor and Olin includes 100% of SunBelt.

9

Mercury Transition Plan

•The North American Chlor Alkali industry has been moving
away from manufacturing chlorine and caustic soda using
mercury cell technology due to customer product de-selection
and threats of potential legislation

•Olin currently operates 2 mercury cell plants representing
approximately 360,000 ECUs or 17% of our total capacity

•By the end of 2012, Olin expects to convert 200,000 ECUs
of mercury cell technology to membrane technology and will
shutdown the remaining 160,000 ECUs

•Estimated cost is $160 million over 2 years, aided by $41
million of low-cost Tennessee-sponsored tax-exempt debt

10

Capacity Rationalization

Favorable Industry Dynamics

Target

Acquisition
Date

Position

2007

2004

•Acquired by Olin

•725,000 Short Tons ECU Capacity

•4.7% of North American capacity

•Acquired by OxyChem

•859,000 Short Tons ECU Capacity

•5.5% of North American capacity

Source: CMAI.

Pioneer

Vulcan

Industry Consolidation

1.4 mm MT
net capacity

reduction; or

9% of 2000

capacity

mmMT

14.2

15.6

2010

2000

2010

•Acquired by Cydsa/Iquisa

•45,000 Short Tons ECU Capacity

Mexichem

2011

•Olin acquired SunBelt interest

•176,000 Short Tons ECU Capacity

PolyOne

Olin announced capacity reductions expected to be in place by 12/31/2012

2011

•Acquired by PPG

•70,000 Short Tons ECU Capacity

Equa-Chlor

11

Diverse Customer Base

Chlorine

Caustic Soda

North American Industry

Olin Corporation

Source: CMAI and Olin 2010 demand.Includes sales of SunBelt.

Chlorine: “Organics” includes: Propylene oxide, epichlorohydrin, MDI, TDI, polycarbonates. “Inorganics” includes: Titanium dioxide and bromine.

Caustic Soda: “Organics” includes: MDI, TDI, polycarbonates, synthetic glycerin, sodium formate, monosodium glutamate. “Inorganics” includes: titanium dioxide, sodium silicates, sodium cyanide.

12

Bleach Plants

39

Tacoma, WA

Tracy, CA

Santa Fe Springs, CA

Henderson, NV

St. Gabriel, LA

Augusta, GA

Charleston, TN

Niagara Falls, NY

Becancour,

Quebec

Olin’sGeographicAdvantage

Location	Chlorine Capacity (000s Short Tons)
McIntosh, AL	426 Diaphragm
McIntosh, AL - SunBelt	352 Membrane
Becancour, Quebec	252 Diaphragm 65 Membrane
Niagara Falls, NY	300 Membrane
Charleston, TN (1)	260 Mercury
St. Gabriel, LA	246 Membrane
Henderson, NV	153 Diaphragm
Augusta, GA (1)	100 Mercury
Total	2,154

•Access to regional customers including bleach and water treatment

•Access to alternative energy sources

–Coal, hydroelectric, nuclear, natural gas

(1)Announced the conversion of 200,000 tons of mercury cell technology to membrane cell technology at the Charleston, TN facility

and the closure of the mercury cell facility in Augusta, GA, both are expected to be completed by 12/31/12.

13

Why Industrial Bleach?

•Olin is the leading North American bleach producer with 18% market
share and current installed capacity to service 25% of the market with
low-cost expansion opportunities

•Bleach utilizes both chlorine and caustic soda in an ECU ratio

•Bleach commands a premium price over an ECU

•Demand is not materially impacted by economic cycles

•Regional nature of the bleach business benefits Olin’s geographic
diversity, further enhanced by Olin’s proprietary railcar technology to
reach distant customers

•Low salt, high strength bleach investment will lower freight costs

•Bleach volumes accounted for almost 10% of total 2010 ECUs
produced; these volumes are expected to grow to 15% to 20% in 2011

14

Chlor-Alkali Outlook

•Q2 2011 ECU netbacks of $550 are up sequentially for the
seventh consecutive quarter and volumes have reached the
highest level since Q3 2008.

•Positive price momentum from 2010 has continued in 2011:

ChlorineCaustic Soda

2010 Increases$50$300

Q1 2011$60$100

April 2011$50

August 2011$65

•Q2 2011 operating rates improved to 85% despite a 2 week
planned outage at our largest production site, McIntosh, AL

•Q3 2011 pricing and operating rates are expected to increase
and seasonal bleach sales should outpace Q3 2010 sales

15

Winchester Segment

Winchester 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

•Provide returns in excess of
cost of capital

	Hunters & Recreational Shooters
Products	Retail	Distributors	Mass Merchants	Law Enforcement	Military	Industrial
Rifle	ü	ü	ü	ü	ü
Handgun	ü	ü	ü	ü	ü
Rimfire	ü	ü	ü	ü	ü	ü
Shotshell	ü	ü	ü	ü	ü	ü
Components	ü	ü	ü	ü	ü	ü

Brands

16

Favorable Industry Dynamics

Commercial

•Economic environment leading to personal security concerns

•Fears of increased gun/ammunition control due to change in administration

•New gun and ammunition products

•Strong hunting activity in weak economy, driven by cost/benefit of hunting
for food and increased discretionary time

Law
Enforcement

•Significant new federal agency contracts and solid federal law enforcement
funding

•Higher numbers of law enforcement officers and increase in federal agency
hiring

•Increased firearms training requirements among state and local law
enforcement agencies

Military

•Sustained high demand for small caliber ammunition due to wars in Iraq and
Afghanistan

•Commitment to maintaining the “Second-Source Program” to mitigate the
risk of a sole-source small caliber ammunition contract

17

Winchester

•Q2 2011 segment earnings of $11.8 million include a $2.4 million
restructuring charge and higher commodity costs versus Q2 2010

•In response to higher metals costs, Olin and two other North American
producers announced price increases that became effective in June

•The U.S. Army awarded Winchester a 5 year contract to produce .50
caliber, 5.56mm and 7.62mm ammunition beginning Q1 2012 providing
expected revenues of approximately $300 million

•As a result of the continued stronger than expected demand, we see no
indication that the normal 20% to 30% reduction in demand that
typically follows a surge will occur following this buying surge

•In Q2 a five and one half year labor agreement was reached with the
East Alton, IL unions that will facilitate a smooth transition as work is
relocated to the new Oxford, MS centerfire production site

18

Centerfire Relocation

•The decision to relocate Winchester’s centerfire operations,
including 1,000 jobs, was made on November 3, 2010

•The controlled relocation process is expected to take up to 5
years to complete assuring high quality product is available
for our customers. Equipment relocation began in August

•In 2011, we expect a $4 to $5 million negative pretax impact
on earnings associated with the relocation project

•Annual operating costs are forecast to be reduced by $30
million once the move is complete

•The net project cost is estimated to be $80 million, of which
approximately $50 million is related to capital expenditures

•$42 million of low-cost Mississippi-sponsored tax-exempt
debt has been made available to the company

19

Financial Highlights

•Strong Balance Sheet

–The Q2 2011 cash balance of $372 million reflects the use
of $132 million to acquire PolyOne’s 50% interest in
SunBelt and approximately $95 million for working capital

–Pension plans remain fully funded with no contributions
expected until at least 2014

–2011 CAPEX is forecast to be $235-$255 million reflecting
the mercury conversion and Oxford relocation costs

•Profit Outlook

–ECU pricing and volume trends are positive

–Higher margin bleach business is growing

–Acquisition of PolyOne’s interest in SunBelt is expected to
be significantly accretive to EBITDA and earnings in 2011

–Opportunity for highest level of EBITDA since Arch spin

20

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, 2010 and in
Olin’s Second Quarter 2011 Form 10-Q. These
reports are filed with the U.S. Securities and
Exchange Commission.