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):  August 31, 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 (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 2.01.             Acquisition or Disposition of Assets.

On August 31, 2007, the Registrant completed the merger contemplated by the Agreement and Plan of Merger, dated May 20, 2007, among the Registrant, Princeton Merger Corp., a wholly owned subsidiary of the Registrant (“Merger Sub”), and Pioneer Companies, Inc. (“Pioneer”).  Pursuant to the merger agreement, the Registrant acquired Pioneer through a merger of Merger Sub with and into Pioneer.  Under the terms of the merger agreement, each outstanding share of Pioneer common stock, par value $0.01 per share, other than shares as to which dissenters’ rights are properly asserted under Delaware law and shares owned by Pioneer, Olin or Merger Sub, was converted into the right to receive $35.00 in cash, without interest, and Pioneer became 100% owned by the Registrant.

Item 2.03              Creation of a Direct Financial Obligation

On August 31, 2007, in connection with the acquisition of Pioneer, the Registrant borrowed $110,000,000 under its $250,000,000 aggregate principal amount accounts receivable securitization facility (the “Accounts Receivable Facility”).

The additional disclosure required by this item is included in Item 1.01.  Entry into a Material Definitive Agreement of the Registrant’s Report on Form 8-K on July 25, 2007, which is incorporated herein by reference.

Item 8.01.             Other Events.

Attached as Exhibit 99.1 and incorporated herein by reference is a copy of the Registrant’s press release dated August 31, 2007 announcing the closing of the Registrant’s acquisition of Pioneer Companies, Inc.

Item 9.01              Financial Statements and Exhibits.

                    (d) Exhibits.

Exhibit No.	Description of Exhibit
99.1	Press Release dated August 31, 2007.

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated August 31, 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:  August 31, 2007

EX-99.1

Exhibit 99.1

Investor Contact: Larry P. Kromidas                                                                                              

                            (618) 258-3206                                                                                              

   

FOR IMMEDIATE RELEASE

OLIN AND PIONEER ANNOUNCE ACQUISITION OF PIONEER BY OLIN

CLAYTON, MO / HOUSTON, TX, August 31, 2007 – Olin Corporation (NYSE: OLN) and Pioneer Companies, Inc. (Nasdaq: PONR) announced today the completion of the merger of Princeton Merger Corp. with and into Pioneer pursuant to the Agreement and Plan of Merger among Olin, Princeton Merger Corp., a wholly owned subsidiary of Olin (“Merger Sub”), and Pioneer dated May 20, 2007.  Under the terms of the merger agreement, each outstanding share of Pioneer common stock, par value $0.01 per share, other than shares as to which dissenters’ rights are properly asserted under Delaware law and shares owned by Pioneer, Olin or Merger Sub, was converted into the right to receive $35.00 in cash, without interest.

Pioneer’s shares of common stock will cease to be traded on The Nasdaq Stock Market at the close of the market today.  Stockholders who hold shares in street name (other than shares as to which dissenters’ rights are properly asserted under Delaware law) will not have to take any action to have their shares converted into cash, since these conversions will be handled by the bank or broker.

COMPANY DESCRIPTIONS

Olin Corporation is a manufacturer concentrated in three business segments: Chlor Alkali Products, Metals, and Winchester.  Chlor Alkali Products manufactures chlorine and caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, potassium hydroxide and bleach products.  Metals products include copper and copper alloy sheet, strip, foil, rod, welded tube, fabricated parts, and stainless steel strip and aluminum strip.  Winchester products include sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

Pioneer Companies, Inc., based in Houston, manufactures chlorine, caustic soda, bleach, hydrochloric acid and related products used in a variety of applications, including water treatment, plastics, pulp and paper, detergents, agricultural chemicals, pharmaceuticals and medical disinfectants. Pioneer owns and operates four chlor-alkali plants and several downstream manufacturing facilities in North America.

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