ICI Australia Unveils New Identity and New Strategy

12th December, 1997

ICI Australia shareholders today approved the motion to allow the company to change its name to Orica Limited on 2 February, 1998.

The new corporate identity was also unveiled for the first time at what was the company's last AGM under the ICI Australia banner.

Managing director Philip Weickhardt said: "Our new name and logo is one which has met with widespread approval internally and we expect that our shareholders, customers and local communities will also embrace it.

"The identity symbolises the very major change that is being undertaken as we enter a new era as an independent Australian company."

Two bold blues, one light and the other dark, will be the colours associated with Orica throughout its operations.

"The shape of the logo reflects chemical structures, global operations and customer relationships which are all representative of our company," Mr Weickhardt said.

"This is a period of considerable change for our company with a new name, new visual identity and new strategic opportunities. Independence now allows us to plan our own course into the future."

Since the selldown earlier this year by parent company ICI PLC, ICI Australia has undergone a comprehensive review of each of its businesses which has resulted in a corporate strategy designed as a blueprint for the future.

"Our strategy is clear and logical. We will invest and pursue profitable growth in areas where we have the strongest competitive advantage and where we have the highest potential for future value creation," Mr Weickhardt said.

The four platforms the company will focus on are mining products and services, agricultural chemicals, consumer products and chemicals.

"Our corporate strategy is about active portfolio management and focusing on creating shareholder value. Importantly, it is not about abandoning those businesses which do not automatically fall into one of the four platforms.

"All our businesses will continue to be managed to deliver quality products and service to our customers and to achieve the best possible return for shareholders.

"We will continue with our drive for cost and productivity improvements, and with our strategy in place, I am determined to make Orica an outstanding company to work for, an outstanding company to do business with and an outstanding stock to own."