Steel & Tube may be interested in Fletcher assets if review prompts sales, CEO Malpass says

Fri, 23 Feb 2018

By Paul McBeth Feb. 23 (BusinessDesk) - Steel & Tube is open to opportunities that might shake out from Fletcher Building's strategic review as it beds in change at its own business to strengthen its balance sheet and improve earnings. The Lower Hutt-based company trimmed net debt by 25 percent to $96.7 million in the six months ended Dec. 31 after the board firmed up plans for a more robust capital structure alongside a restructure to improve margins after a series of acquisitions broadened the steel products manufacturer and distributor...

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