Incitec Pivot: an explosive break up?

As Incitec Pivot considers a break up, Gaurav Sodhi asks whether there’s any value in the business.

Fertilisers and explosives share a common chemistry. So when Orica announced way back in 2002 that it would separate its explosives business from its fertiliser business, there were some who mourned for the loss of much adored ‘synergies’. They were not long disappointed.

Orica’s orphan – Incitec Pivot – was quick to use synergies to justify buying an explosives business, Dyno Nobel, to add to its fertiliser business. Like Cat Stevens warned, the child came to resemble the parent.


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles