EXCLUSIVE: Painful change on the horizon for Omnia
Investors jittery after a memo to employees unveils a worrying restructure, of which the firm has not informed the market
14 May 2020 - 05:00
Diversified chemicals group Omnia, which late last year shored up its creaky balance sheet with a R2bn rights issue, looks set to make painful adjustments to its agricultural division.
Correspondence sent to Omnia employees, issued at the end of April and seen by the FM, refers to a new operating model for the sprawling agricultural segment, which is mainly involved in the fertiliser market...
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