ICI Australia Starts A New Era As Orica

16th February, 1999

ICI Australia's name change to Orica was launched today with a wave of celebrations across its sites around Australia, New Zealand, Fiji, PNG and Asia.

Managing director Philip Weickhardt said: "This is a time of celebration for all of us at Orica. We are now proudly displaying our new identity as we pave our own way into the 21st century."

Officially launching the new corporate identity at Orica's head office in Melbourne was Victorian Premier Jeff Kennett.

The name change follows the sale of ICI PLC's majority shareholding in July last year. The sale created an independent company with Australian, New Zealand and international operations and more than 40,000 new shareholders.

"Orica starts today, not as a fledgling company, but as a $3.6 billion enterprise employing 9200 people in more than 110 locations," Mr Weickhardt said.

"We may be stepping out with a new name, a new look and new aspirations for the future but we are definitely not starting from scratch. We are building on the solid foundation established over our long history - almost 70 years as ICI and over 120 years in Australia.

"Our separation from the ICI Group is providing us with new opportunities to grow. The soon to be completed acquisition of ICI PLC's explosives activities in the Americas and Europe is positive proof of this, adding nearly $800 million of sales to the Orica Group.

"Once the acquisition is complete, Orica will be the world's largest supplier of commercial explosives. The investment also provides an attractive business and geographical base for future growth of the Orica organisation."