none
none

ARRIUM TO BE PUT UP FOR SALE IN JULY

24-05-2016
by 
in 

According to the firm’s administrators, Arrium, the steel company that has been in the news for its troubles, will be on sale in late July.

The company, which owns Whyalla's steelworks in South Australia, is struggled with about $4.3 billion in debt.

Statements from the administrator say that they are turning their attention to the sale of Arrium as a whole.

"The Arrium Group of companies are expected to attract genuine interest from numerous credible local and international parties, many of whom have already contacted KordaMentha to register their interest," the statement read.

Currently, Arrium has about 6,700 employees around Australia, with 1,400 contractors in South Australia.

The administrators said they had put proposals to the state and federal governments that amounted to more than $100 million in investment in the Whyalla site over four years.

Related news & editorials

  1. Lots of moneyb
    06.02.2018
    06.02.2018
    by      In
    Confidence continues to rise as Australian businesses predict healthy profits well into the year, according to illion’s latest Business Expectations Survey. The preliminary survey for the June quarter sees the Business Expectations Index rising by 31% over the previous year.
    Business confidence has... Read More
  2. Australian manufacturing
    01.02.2018
    01.02.2018
    by      In
    The inexorable rise of the Australian Performance of Manufacturing Index during 2107 has continued into the new year with production leading the way. The AI Group’s Australian PMI has come in at 58.7 in January 2018, showing an increased level of growth, and the production subindex jumped to 62.7,... Read More
  3. Belgian cement works
    31.01.2018
    31.01.2018
    by      In
    Australian technology company, Calix, has secured EUR3.4 million in working capital from Efic to build the CO2 capture facility for the Low Emissions Intensity Lime and Cement (LEILAC) project in Belgium.
    Efic, the Australian Government’s export credit agency, is a specialist financier that... Read More
  4. Lots of money
    24.01.2018
    24.01.2018
    by      In
    This year looks likely to be the last chance for small businesses to take advantage of the Federal Government’s $20,000 instant asset write-off. So any business with an annual turnover of less than $10 million has until 30th June 2018 to make a qualifying investment.
    The scheme originated in the... Read More