JOHANNESBURG, South Africa, Aug. 22, 2016 /CNW/ - Omnia Holdings Limited ("Omnia") (JSE: Share code: OMN ISIN: ZAE000005153) today announces the withdrawal and termination of its offer (the "Offer") to acquire all of the issued and outstanding common shares of Nordex Explosives Ltd. ("Nordex").
In light of Nordex shareholders approving the change of control private placement and going private transaction with Société Anonyme d'Explosifs et de Produits Chimiques on August 18, 2016, a condition of Omnia's Offer is incapable of being satisfied. Omnia is therefore withdrawing the Offer with immediate effect.
Omnia continues to seek to expand its business into the North American marketplace through Canada, and has identified a suitable site in Ontario for its market entry and expansion program.
"Having heard from its customers and suppliers, Omnia and BME remain fully committed to entering the North American market. While we are disappointed with the outcome of the Nordex Offer, we had planned for that possibility and are now moving to execute on our alternative business expansion plans," said Joseph Keenan, BME's Managing Director.
Omnia Holdings Limited is a diversified chemicals group, listed on the Johannesburg Stock Exchange with a market capitalization of R10.8 billion (Cdn$980 million), with specialised services and solutions for the agriculture, mining and chemicals industries. Group turnover for the financial year ended 31 March 2016 was R16.8 billion (Cdn$1.5 billion).
The Group differentiates itself from other commodity chemical providers by adding value at every stage of the supply and service chain through technological innovation and by deploying its intellectual capital. The sustainability of the business model is strengthened by targeted backward integration through the installation of technologically advanced plants that manufacture core materials such as nitric acid and explosives emulsions. In addition to securing sources of supply, this enables Omnia to improve operational efficiencies throughout the product development and production cycle.
Omnia, which has its roots in the fertilizer and agriculture industry, has built an in-depth understanding, not only of its core markets in South Africa, but also in the fundamental industries of mining and agriculture in Africa. Based in Johannesburg, South Africa and with operations in 18 countries in Africa, including South Africa, and five countries outside of Africa, Omnia has more than six decades' experience in the business. Additionally, Omnia continues to grow its global footprint, with business units in Australasia and Brazil and clients in other regions such as Europe, South America and South East Asia.
Omnia provides customised, knowledge-based solutions through its Agriculture, Mining and Chemicals divisions. These divisions include Omnia Fertilizer, BME, Protea Mining Chemicals and Protea Chemicals, all niche businesses that operate with a common objective: to enhance customers' businesses through research, development and knowledge sharing that will enable them to increase yields and by extension, profit margins. The Group's proven business model makes it a market leader in chemical services. Omnia continues to grow and prosper, offering value to its customers by tailoring its solutions to their business needs through product and service innovation, and through the expert application thereof.
For further information, please refer to the Omnia website at www.omnia.co.za.
The Mining division services the mining, quarrying and construction industries through BME and Protea Mining Chemicals. BME is a leading manufacturer and supplier of bulk explosives, related accessories and blasting services in South Africa, southern and West Africa, and Australia.
BME is a market leader in bulk emulsion and blended bulk explosives formulations for opencast mining. It produces electronic delay detonators and shocktube initiating systems, and has its own range of boosters. BME also manufactures packaged explosives for underground mining and specialised surface blasting operations. BME offers a world-class blasting consultancy service with a combination of leading edge proprietary technology and world class expertise.
Industry experts, experienced mining engineers and geologists advise and support customer operations, particularly in the use of BME's unique and proprietary BlastMap™ software solutions in conjunction with the accurate AXXIS® electronic delay detonators.
Having introduced the technology for cold emulsion explosives into South Africa over 30 years ago and being the first to introduce used oil in the manufacturing of bulk explosives, BME remains driven by innovation and technical ability. Alongside the continuous evolution of BME's explosives and related products, BME has developed the AXXIS® electronic delay detonators – now an industry standard with an easy-to-use interface – and the BlastMapIII™ software for blast design and planning. This innovative approach leverages cutting-edge knowledge within the business to create significant customer wealth through improved productivity.
For further information, please refer to the BME website at www.bme.co.za.
SOURCE Omnia Holdings Limited
For further information: Joseph Keenan - Managing Director (BME - a division of Omnia Group (Pty) Ltd, Email: email@example.com, Contact: +27 11 709 8973