Another leak at one its plants, another dire government warning for Orica Limited (ASX:ORI).
NSW Premier Barry O'Farrell says the chemical company will lose its licence if it fails to comply with environmental laws following a corrosive acid leak late last week at its Port Kembla plant.
It’s the company’s third reported leak since August.
O’Farrell says Orica’s going to have to work hard to restore public confidence, and will continue to face the toughest environmental laws in Australia.
Orica says it’s indefinitely delayed the restart of one of the Kooragang Island plants at Newcastle, because of safety concerns.
Orica posted a profit of $663 million in the 2011 financial year.
ORI Price at posting:
$24.71 Sentiment: None Disclosure: Held
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