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Mergers & Acquisitions
Orica to sell Minova mining chemical unit
by Alex Scott
May 22, 2021
| A version of this story appeared in
Volume 99, Issue 19
The Australian mining explosives maker Orica plans to sell Minova, a producer of chemicals for underground mining and civil engineering activities. “While Minova has delivered a substantially improved performance in recent times, it has been identified as noncore,” Orica CEO Sanjeev Gandhi says in a press release. Orica bought Minova from BP in 2006 for $645 million. The planned sale follows a 54% decline in Orica’s profits for the 6 months ended March 31.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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