PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

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.

Axxiom Manufacturing
Schmidt Introduces
the New miniBRS

Reduced in size, it is incredibly easy to maneuver and operate! The perfect alternative to larger blast & recovery units when project space is limited.
Call 1-800-231-2085


DeFelsko Corporation
PosiTector Dew Point Meter

Measures and records
environmental conditions
during surface prep and
painting. 4 Models
Available – Standard
or Advanced features,
Built-in or Separate probe.


Spider, a Division of SafeWorks, LLC
Complete Suspended Access Solutions

Need access? From platforms & hoists to rigging & fall protection, Spider leads the industry in rentals, sales & service. Call 877-774-3370 or click today.


Thermion Inc
Buy Back Program

We are offering $5,000
credit for your old Model
This drive system is
being discontinued by
the manufacturer.
More information at
thermioninc.com
877.884.3428


Carboline Company
Hyrdrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Corrosion Probe, Inc.
From Detection to Correction

Corrosion Probe, Inc. has the Most Concrete Coatings Experience and Expertise. Contact us today at
860-767-4402, www.cpiengineering.com


Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES

(no needles to embed!)
Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2014, 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