13 August 2012
BLUESCOPE Steel's shares have soared, increasing by more than 50 per cent in early trade after striking a deal with Japan's largest steelmaker.
BlueScope has sold half of its coated products business to Nippon Steel Corporation.
The new, merged NS BlueScope Coated Products business will be aimed at capturing more of the South-East Asian and North American construction markets.
The entity will be valued at nearly $US1.4 billion ($A1.33 billion), BlueScope said today.
The news comes as the beleaguered steelmaker forecast a net loss of about $US1 billion ($A951.52 million) ahead of reporting its annual financial result next week.
27 October 2003
- AA STEELS sees EU enlargement open up opportunities for Dutch SME First Woman Bank wrote an economic report identifying the three effects that Dutch businesses can turn to their advantage.