Orica New Zealand to Acquire Powder Coatings Business

23rd March, 1998

Orica New Zealand and H. B. Fuller Company of the United States have signed an agreement for the purchase of H. B. Fuller Powder Coatings (New Zealand) Limited's powder coatings business in New Zealand, Australia and exports to Asia.

The acquisition comprises a powder coatings manufacturing facility in Auckland, New Zealand, together with sales and distribution activities in New Zealand and Australia. The business has sales of A$14 million and employs approximately 65 people.

Orica business manager for Powder Coatings, Mr Peter Bailey, said "We anticipate merging the sales and distribution activities of H. B. Fuller Powder Coatings in Australia and New Zealand with our existing Dulux Powder businesses. Operations at the factory site in Auckland will continue.

"The merger will provide additional manufacturing capacity and facilitate the domestic and export growth of our Powder Coatings business. This is consistent with Orica's recently announced expansion strategy which identified the Consumer Products area as a business with strong future growth potential."