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Orica welcomes Exsa
01 May 2020
Orica is pleased to announce that it has completed the acquisition of 83.5% of shares in Peru’s leading manufacturer and distributer of industrial explosives, Exsa.
Orica Managing Director and CEO Alberto Calderon said: “We are delighted to welcome Exsa into the Orica family.
“This is a transformational acquisition for our company. It establishes Orica as the number one player in Peru, Latin America’s highest growth market, and transforms our entire Initiating System footprint.
“We now look forward bringing our two great businesses together and delivering the many meaningful and tangible synergies that will drive revenue and productivity across the region.”
First announced in February this year, the acquisition will create a step-change in Orica’s manufacturing footprint, driving competitive advantage and an enhanced position in the Latin American market, with significant synergies available by combining Orica and Exsa’s operations.
Orica expects to complete the tender offer process for the remaining shares by the end of the calendar year.
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