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Orica to exit ORICA-GreenEDGE sponsorship
10 Jun 2016
Melbourne: Orica (ASX: ORI) today announced that it would be exiting its sponsorship of the GreenEDGE men’s and AIS women’s cycling teams at the end of the 2017 calendar year. While the current two year sponsorship term expires at the end of December 2016, Orica made the decision to extend for one year to provide the teams with a notice period that would enable maximum time to source alternative sponsorship.
Orica Vice President, Corporate Affairs, Samantha Stevens, said: “The ORICA-GreenEDGE partnership has been positive. While the Orica brand has benefited from the goodwill associated with Australia’s most successful professional road cycling teams, many of our customers, communities and employees have also been able to participate in first hand experiences with the teams. The global nature of the cycling calendar has meant we have been able to provide these opportunities across multiple geographies.
“Exiting the partnership was not a decision made easily. However, given the more challenging environment facing the resources and mining services sectors, it is the appropriate decision for Orica at this time. Nevertheless, we elected to extend the contract by an additional year to enable the teams extra time to source alternative sponsorship. We wish the teams all the best for the future, and we are confident that they will build on their significant successes on the UCI event calendar, providing many positive branding benefits for current and future sponsors.”
Team owner and businessman Gerry Ryan OAM said: "We are really happy to continue another year with Orica and we are looking forward to keep on delivering results above expectations. They have been a great partner for us and we will of course continue our efforts to build this team even stronger going onwards."
The decision to exit the GreenEDGE and AIS partnership will not affect Orica’s localised community investment program, through which the company aims to make a lasting and positive contribution to the communities in which it operates. The programs are focused primarily on the themes of education, technology, engineering and leadership; the environment; and community health and wellbeing. Orica remains committed to investing in local communities and in building mutually beneficial long term relationships with the people who live near its operations and sites.
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