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ICI EXPLOSIVES ANNOUNCES ACQUISITION OF FERTIMEX AMMONIUM NITRATE PLANT IN MEXICO

 ICI EXPLOSIVES ANNOUNCES ACQUISITION OF
 FERTIMEX AMMONIUM NITRATE PLANT IN MEXICO
 TORONTO, March 12 /PRNewswire/ -- ICI Explosives today announced that the acquisition of the Fertimex Ammonium Nitrate Plant at Monclova, Mexico, has been completed.
 In 1991, ICI agreed to purchase the plant, which was sold as part of a privatization program by the Mexican government. A new company, Nitroamonia de Mexico, S.A. de C.V., has been formed to operate the facility.
 The plant, which produces approximately 60,000 tons per year of industrial grade ammonium nitrate, will service the requirements of the Mexican explosives market.
 R.W. Clark, ICI Explosives chief executive officer, said, "This acquisition will strengthen ICI Explosives and improve our ability to supply high-quality products and services to our customers in the important and growing Mexican market."
 ICI Explosives, headquartered in Toronto, is the largest commercial explosives manufacturer in the world. ICI Explosives is part of the U.K.-based Imperial Chemical Industries PLC (NYSE: ICI). ICI is one of the world's leading science-based companies with manufacturing operations in 40 countries and annual sales of approximately US$23 billion.
 ICI de Mexico is the largest commercial explosives manufacturer in Mexico. In North America, including Mexico, the United States and Canada, ICI employs about 25,000 people and has annual sales of about US$6 billion.
 The value of this transaction represents less than 1 percent of ICI Group net assets.
 /delval/
 -0- 3/12/92
 /CONTACT: Steve Church of ICI N.A. Communications, 302-886-2436/
 (ICI) CO: ICI Explosives; Fertimex Ammonium Nitrate Plant ST: Delaware, Ontario IN: CHM SU: TNM


MP-LJ -- PH002 -- 7671 03/12/92 09:46 EST
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Publication:PR Newswire
Date:Mar 12, 1992
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