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Australian chemical firm Orica (OTCPK:OCLDF) (OTCPK:OCLDY) stated Tuesday it agreed to accumulate U.S. sodium cyanide producer Cyanco from Cerberus Capital Administration for US$640M, in an effort to increase its geographical attain in mining chemical compounds.
Cyanco produces NaCN, a specialised chemical required for gold processing, at its U.S. vegetation in Nevada and Texas, and provides it primarily to gold mining industries throughout elements of the Americas and Africa.
Orica (OTCPK:OCLDF) (OTCPK:OCLDY) stated the addition of Cyanco’s two manufacturing vegetation will greater than double its sodium cyanide manufacturing capability.
The Australian firm stated it expects the acquisition can be accretive to earnings per share in mid-single-digits within the first 12 months after closing and supply “sturdy EBITDA margins” advantages.
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