Orica Signs Settlement Agreement With Ammonium Nitrate Supplier

MT Newswires Live

03/16

Orica (ASX:ORI) signed an agreement with ammonium nitrate supplier CF Industries Sales and CF Industries Nitrogen to settle the litigation that started in October 2023, according to a Monday filing with the Australian bourse.

The company will pay $169.5 million to CF in the fiscal second half under the settlement, the filing said.

The company also agreed to acquire 100% of Nelson Brothers' explosives business for $25 million plus retirement of $48 million debt, per the filing.

Orica shares fell 1% in morning trade Monday.

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