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Orica Looking at Mining Acquisitions

Orica is looking to add new mining related acquisitions to the company portfolio as per Orica Chief Executive Officer Graeme Liebelt. The demerger of paint maker DuluxGroup was announced on Friday by the company. DuluxGroup is the owner of Cabots paint and Selleys building products brands and was listed separately on the Australian Securities Exchange.

Akzo Nobel owns the rights to the Dulux paint brand outside Australia. In an interview with the ABC Mr Liebelt said that Orica is now looking for growth prospects in mining acquisitions and explosives businesses. Orica reported a profit of $541.8 million for the year ending 30 September 2009.

Mr. Liebelt felt that Dulux as a separate company would be better able to focus on its market in consumer goods and generate more value. Orica would not be more mining focused. The additional value should offset the costs of the split.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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