Orica to spin off or sell chemicals

摘要

Orica (Melbourne) says that its board of directors intends to pursue the separation of the company’s chemicals business, either by demerger or sale, following a strategic review of the chemicals business. Orica says it has received a number of unsolicited enquiries from third parties expressing interest to acquire the chemicals business. “Whilst demerger is currently the preferred approach, Orica will consider any alternatives that are in the interests of shareholders,”Orica says. Orica’s chemicals business has annual revenue of about A$1.2 billion ($1.12 billion).