Steel & Tube upgrades processing facilities, sells old factory for $8.4 million

Steel & Tube upgrades processing facilities, sells old factory for $8.4 million
Sophie Boot
By Sophie Boot Dec. 7 (BusinessDesk) - Steel & Tube Holdings, New Zealand's biggest steel distribution company, has sold its former processing facility for $8.4 million having shifted manufacturing to a new purpose-built site in Auckland.  The Petone-based company will record a $5.2 million gain from the sale in its results for the six months ending Dec. 31 this year, with the deal due to settle on Dec. 22, it said in a statement. The company didn't identify the buyer.  Steel & Tube moved out of the facility, on Bowden Road in Auckland...