Xiom Corp., developer and manufacturer of a portable plastic polymer spray system, has named Orica Powder and Industrial Coatings, a business unit within the Orica group of companies, to be its exclusive distributor in the Pacific and Southeast Asia. With operations in approximately 50 countries, the Orica group is a multibillion dollar company with sales revenue of US$5 billion in 2007. The publicly listed Australian company is a market leader in mining services, chemical services, and powder coating materials.
Orica Powder & Industrial Coatings manufactures and markets an extensive range of powder coating materials in Australia, New Zealand, and the Asia-Pacific region. The company also has a modern joint-venture manufacturing plant in Dongguan – Southern China. The exclusive relationship reportedly brings both Orica and Xiom significant opportunities for synergy and growth.
According to Andrew Mazzone, president of Xiom, the company has granted Orica an exclusive “stand still” review period of 180 days to examine Xiom, its technology, and current alliances. The “stand still” agreement is independent of, and not conditional on, the appointment of Orica Powder & Industrial Coatings as Xiom’s exclusive Pacific and Southeast Asian distributor. Xiom’s invitation to Orica and Orica’s acceptance of the 180-day invitation do not commit Orica to make any investment, but allow Orica the time to explore a number of strategic options with Xiom, possibly leading to a larger and more extended role than currently agreed, and possibly ending up with an equity position in Xiom.
For more information, visitwww.xiom-corp.comorwww.orica.co.nz.
Xiom Names Orica as Exclusive Pacific & Southeast Asian Distributor - Posted 3/26/08
March 26, 2008