PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


Orica Revives Plan to Spin Off Dulux

Friday, May 7, 2010

Comment | More

Australian chemical and mining giant Orica Ltd. has announced that it will spin off paint and building products maker DuluxGroup to create a stand-alone, ASX-listed company.

Orica, based in East Melbourne, Australia, expects the spinoff to be completed in July, subject to shareholder and court approvals.

DuluxGroup’s business units are Decorative Coatings, Selleys, Cabot's, Yates, and Powder & Industrial Coatings. Products include paints and stains, texture coatings, powder coatings, paint-preparation products, car-care and garden-care products. Its paint, coatings and finishing brands include Dulux, Berger, British Paints, Levene, Walpamur, Cabot’s, Feast Watson, and Intergrain. Other brands include the Selleys lines of adhesives, solvents and sealants. DuluxGroup products are marketed in Australia, New Zealand, Papua New Guinea, and Fiji.

Orica chairman Peter Duncan described the split as “a natural evolution of Orica’s strategy to create two even better companies, each free to capitalize on its strategic strengths: Orica largely as a global leader in mining consumables and services leveraged to mining production volumes, and DuluxGroup as the Australasian market leader in premium-branded coatings, home-improvement and garden-care products.

“Equity and debt market conditions have substantially improved in recent months, and we believe the time is now right for DuluxGroup to pursue its strategy independent of Orica,” Duncan said. “DuluxGroup has been an outstanding business within the Orica portfolio, and we believe it will be an even better business with the strategic freedom offered by a demerger.”

Duncan said DuluxGroup has built a market-leadership position on core strengths of customer relationships; leading distribution channels; technical leadership through continued investment in research and new-product development; and an experienced management team. “It has consistently demonstrated highly disciplined management of costs, cash and margins,” he said.

“These factors provide an excellent base from which to launch DuluxGroup as a stand-alone company. Supporting the company with a dedicated board and tailored capital structure is the next logical step” to maximize shareholder value,” he said. 

   

Tagged categories: Acquisitions; Dulux; Mergers

Comment Join the Conversation:

Sign in to our community to add your comments.

HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com


CHLOR*RID International Inc.
Free Webinar

Learn about soluble salts, along with a discussion on allowable levels.
More information at
www.chlor-rid.com,

800-422-3217


Safway Services
One Source. Every Solution.

The Safway Group is your source for multiservices. Painting, coating, insulation and more – all from the most trusted name in the industry.


AGC Chemicals
LUMIFLON®Resins Featured on Famous Blue Bridge

LUMIFLON based coatings can last up to 30 years without fading, offering a low-maintenance solution that retains color and gloss and can be field-applied


WINOA Group
W Abrasives : Bullets for cost killers

WA COST is the right solution for cost killers who want to reduce their blasting costs. Visit us during the GIFA (Hall15 - D14).


Armorthane
Polyurethane and Polyurea Sprayed-On Protection

Buy POLYURETHANE or POLYUREA coatings and spray equipment for years of proven chemical resistance, water- and weather-proofing, and structural improvements.


Blastox/The TDJ Group, Inc.
Blastox - One Step
Lead Abatement

Don't waste $$ on added labor steps with other methods. Don't mix, meter or apply at the job-site. Avoid strict hazardous waste rules.
Let your painters paint!


Sidewinder/Persyst Enterprises, Inc.
The Sidewinder Model M2 Solvent Recycler

Combat the rising cost of gunwash, thinners, acetone & more while drastically reducing waste disposal coat.


Advanced Recycling Systems
ADVANCED RECYCLING SYSTEMS (ARS)

Recycling Machines, Dust Collectors, Rapid Deployment units are time-tested and approved for the rugged industrial environment. Contact ARS today!
(330)536-8210

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com