of Cleveland, Ohio, in May 1952, Olin entered
the growing field of powder-actuated industrial
fastening tools and fasteners used in the construc
tion and maintenance fields and many others.
Ramset tools use a special type of smokeless
powder cartridge as their source of power to drive
steel fasteners of many types into steel and con
crete.
To complement its well-established position as
a producer of explosives for the coal-mining in
dustry, Olin purchased an interest in the Arm
strong Coalbreak Company of Benton Harbor,
Michigan. This company holds basic patents and
sells and services equipment used in the new and
rapidly growing technique of mining coal by com
pressed air.
The formation of the Matholin Corporation to
manufacture, sell and conduct research on hydra
zine, one of the most promising of the new com
mercial chemicals, was announced jointly in July,
1953, by John M. Olin, president of Olin Indus
tries, and Thomas S. Nichols, president of the
Mathieson Chemical Corporation.
Hydrazine, as an important national defense
chemical is expected to become one of the basic
chemicals of the future, with constantly growing
applications in many fields of industrial chemis
try. Until recently it has been a laboratory curi
osity but some 2,000 derivatives have now been
reported. The material, or its derivatives, is being
used in medicinal, agricultural, plastic and many
other products.
The new company, owned equally by Olin and
Mathieson, will acquire the first commercial-scale
hydrazine plant recently completed by Mathieson
at Lake Charles, Louisiana.
Research which always has been dominant as a
factor in the company’s growth, received a major
impetus in 1952 with the establishment of the
Olin General Research Organization. Over 700
scientists, technicians and others are employed in
Olin laboratories.
Olin’s steady growth has brought with it a re
organization, coordination and added depth to its
management which, with resulting efficiency, have
produced the highest peacetime sales in its 62
years.
Olin recognizes that, in peace or war, America
must be strong and progressive. Through a vig
orous program of research, efficient production,
aggressive selling and capable management which
has the ability to recognize and take advantage of
new opportunities, Olin Industries is producing
an even stronger enterprise for the benefit of its
customers, employees, stock-holders and for the
nation as a whole.
EXECUTIVE COMMITTEE
John M. Olin
Spencer T. Olin
John W. Hanes
Edgar W. Taft
Robert W. Lea
BOARD OF DIRECTORS
John M. Olin
Spencer T. Olin
John W. Hanes
F. Stillman Elf red
Marshall W. Acker
Burdett E. Bassett
Fred Olsen
Lt. Gen. Elwood R. Quesada
(U.S.A.F., Retired)
Edgar W. Taft
Russell R. Casteel
Robert W. Lea
Frank T. Whited
Randle T. Moore
OFFICERS
John M. Olin
.President
Spencer T. Olin
First Vice President
John W. Hanes
Financial Vice President
F. Stillman Elf red
Executive Vice President
Norman H. Collisson
Vice President for Operations
Milton F. Meissner
Vice President for Operations
Robert W. Lea
Vice President for Organization
Burdett E. Bassett
Vice President
Ralph A. Ostberg
Vice President for Production
Fred Olsen
Vice President for Research
and Development
David T. Marvel
Vice President for Sales
Edgar W. Taft
Treasurer
Russell R. Casteel
Secretary
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