Key Issues

Industry Directory

ASI Groups

Sale call injects greater certainty for local steel chain


The ASI has welcomed KordaMentha’s naming of the preferred bidder in the sale process of Arrium announced on 15 June.

ASI Chief Executive, Tony Dixon said that the naming of the consortium involving Newlake Alliance and JB Asset Management, supported by the POSCO company, is a welcome milestone toward ending uncertainty for the Group and its employees nationwide, as well as for the greater steel supply chain.

“The decision was a good day for the steel industry and the supporting supply chain as the resolution of Arrium’s issues moves closer,” he said.

“The improvements made in the business since entering administration has established the foundations to build a sustainable long product steel business into the future.

“The ASI is pleased that the Group attracted wide interest in its operations from far afield which injects confidence in its standing and potential going forward as a viable business and willingness to invest in more advanced capability.

“We are optimistic that all players will work towards a positive outcome in the next round of negotiations on the future of this important strategic asset.”

Posted On: 16 Jun 2017


Related Key Issues

Local economic benefit


Related News

Clear directions from wide-ranging Senate steel inquiry deserve actions
Antidumping law fills gaps to stem system gaming
Pipeline contract a win-win for industry surety and regional water security
WA embraces local value-add, long championed by steel sector
Labor’s plan to stimulate Australian-made welcome
Arrium sale bodes well for sustainable steel industry
ASI backs National Manufacturing Summit in Canberra this June
Steel solution can maximise local flow-on benefits from mega NSW pipeline