NZ Steel next up for 'strategic review' by Aussie owner

Fri, 17 Jul 2020

BlueScope Steel is reviewing the shape of its New Zealand business as it struggles to keep the steel operations viable, blaming government policy for making things even harder. The Australian steelmaker today said it’s undertaking a strategic review of its Kiwi operations – NZ Steel and Pacific Steel – and expects to have an update when it reports its earnings next month. BlueScope said it expects to write down the value of the NZ businesses by A$200 million on new expectations for lower sustainable earnings over the long-term. “The co...

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