Sale of Adhesives and Resins Businesses
6 December, 2006
Orica Limited (“Orica”) today announced that the Australian Competition and Consumer Commission (ACCC) has advised that it does not propose to intervene in the sale of Orica’s Adhesives and Resins businesses to Hexion Specialty Chemicals, which was first announced on 25 August 2006.
The sale includes Orica’s Adhesives & Resins businesses in Australia and New Zealand.
Under the agreed terms and conditions of the transaction, the consideration for these businesses remains confidential. The divestment will generate a book profit on sale, which will be disclosed as an individually significant item in Orica’s financial results for the first half of fiscal year ending 30 September 2007.