EXPLOSIVES INDUSTRY – AUSTRALIA

Orica shares dive 12pc as shareholders blast poor result

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Original article by Jared Lynch
The Australian Financial Review – Page: 1 & 11 : 10-May-16

Mining services group Orica has posted a 2015-16 interim net profit of $A149m, which is 33 per cent lower than previously. The explosives manufacturer’s revenue was 22 per cent lower at $A2.6bn, and its half-year dividend has been reduced from $A0.40 per share to just $A0.205 following a decision to abandon its progressive dividend policy. CEO Alberto Calderon has warned that a significant improvement in commodity markets is unlikely for some time.

CORPORATES
ORICA LIMITED – ASX ORI, STANDARD AND POOR’S CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN TAXATION OFFICE, MORGANS FINANCIAL LIMITED

Incitec predicts further growth in US, China

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Original article by Jared Lynch
The Australian Financial Review – Page: 24 : 16-Sep-15

Incitec Pivot CEO James Fazzino says that the US will account for around 50 per cent of the group’s earnings when its ammonia plant in Louisiana is fully operational. He notes that US shale gas prices have fallen sharply since Incitec decided to proceed with the plant, adding that the Louisiana facility provides investors with a "compelling" reason to buy the group’s shares. Fazzino also remains upbeat about the outlook for the Chinese economy.

CORPORATES
INCITEC PIVOT LIMITED – ASX IPL, UBS HOLDINGS PTY LTD, CHS, CF INDUSTRIES HOLDINGS INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Ex-BHP ace steps into Orica role

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 & 20 : 24-Mar-15

Australian-listed explosives group Orica has appointed Alberto Calderon as interim CEO, although chairman Russell Caplan has declined to comment on whether he will be a contender to take on the role permanently. Outgoing CEO Ian Smith was originally slated to remain at the helm during a search for a successor, but the Orica board decided that this was not appropriate. Smith’s management style had attracted some criticism at Orica

CORPORATES
ORICA LIMITED – ASX ORI, BHP BILLITON LIMITED – ASX BHP, NEWCREST MINING LIMITED – ASX NCM

Ex-Orica CEO admits he can be ‘aggressive’

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Original article by Tim Binsted
The Australian Financial Review – Page: 19 & 24 : 19-Mar-15

Shares in explosives group Orica closed 5.3 per cent lower at $A18.20 on 18 March 2015, in response to the imminent departure of CEO Ian Smith. He will remain in the role until Orica concludes an international search for his successor. Smith concedes that his management style had sometimes caused conflict with other Orica executive, but stresses that he had been working hard to change for the better. Chairman Russell Caplan says the group will continue to pursue its current strategy

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, BHP BILLITON LIMITED – ASX BHP

Orica launches $400m share buyback

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 3-Mar-15

Australian-listed Orica has revealed plans for an on-market share buyback from mid-March 2016. The explosives group intends to repurchase up to $A400m worth of shares over the next 12 months, following the sale of its chemicals division to Blackstone for $A750m. The private equity firm has announced that the business will be known as Ixom. It boasts EBIT of around $A110m and revenue of $A1.2bn

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, IXOM, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, LAZARD PTY LTD, FONTERRA CO-OPERATIVE GROUP LIMITED, NUFARM LIMITED – ASX NUF, CALTEX AUSTRALIA LIMITED – ASX CTX, SYDNEY WATER CORPORATION, BLUESCOPE STEEL LIMITED – ASX BSL