Business Services Industry
Steel deal to iron out the differences.
Australasian Business Intelligence, September, 2006
Byline: Andrew Trounson
Sep 10, 2006 (The Australian - ABIX via COMTEX) -- The atmosphere between BlueScope Steel and rivals Smorgon Steel and OneSteel remains tense. The key issue is the friendly Smorgon-OneSteel merger, which BlueScope has the power to block through its roughly 20% Smorgon stake. In signs of acrimony, the Australian trio are fighting over Smorgon's steel distribution arm, which BlueScope wants to buy, and the price of hot-rolled-coil (HRC). BlueScope has demanded HRC prices that Smorgon claims are far too high. In response, Smorgon has threatened to temporarily or even permanently source HRC from overseas.
Publication Date: 9 September 2006
BLUESCOPE STEEL LIMITED - ASX BSL
SMORGON STEEL GROUP LIMITED - ASX SSX...
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