Incitec Pivot announces restructure

Fertiliser and explosives maker Incitec Pivot is to split its global manufacturing operations into two divisions. The decision follows a review of the worldwide arm.

In a statement to the Australian Securities Exchange, the company explained that a strategic and technical division will be in charge of engineering and project management and an operational division will take care of the daily operation of the company’s plants.

In addition, the statement said that Bernard Walsh will step down as president of global manufacturing when the restructure comes into effect on October 1.

From this date, Alan Grace will take charge of both divisions. Grace recently oversaw the construction of the company's ammonium project in Louisiana in the United States.

Incitec Pivot operates more than 15 major chemical plants across Australia, the Americas and Europe.