Arab Today, arab today australia\s bluescope in tieup with nippon steel
Last Updated : GMT 00:31:57
Arab Today, arab today
Arab Today, arab today

Australia\'s BlueScope in tie-up with Nippon Steel

Arab Today, arab today

Arab Today, arab today Australia\'s BlueScope in tie-up with Nippon Steel

Sydney - AFP

Australia\'s struggling BlueScope Steel on Monday announced a $1.36 billion joint venture with Japan\'s Nippon Steel in a bid to tap new markets and help ease concerns over its balance sheet. The 50-50 joint venture, NS BlueScope Coated Products, will see Nippon Steel acquire half of BlueScope\'s interest in its Southeast Asian and North American building products businesses. Bluescope said the venture would generate around US$540 million in net proceeds, sending its share price soaring by nearly 50 percent, before settling back to Aus$0.36, up 38 percent by mid-afternoon. The news was a shot in the arm for the Australian steelmaker which posted a net loss of Aus$530 million for the first half of last year. Last August it revealed a Aus$1.05 billion full year loss and announced it would cut more than 1,000 jobs and shut down its Australian export business as it struggles to cope with a soaring Australian dollar. It said the US$1.36 billion tie-up would help \"capture expected growth in the $40 billion per annum building and construction sector\" \"We chose to partner with NSC because it is one of the world\'s largest and most innovative steel companies,\" added Bluescope chief executive Paul O\'Malley. Nippon Steel president Shoji Muneoka said his company was \"delighted\". \"The global building products business has strong momentum and is well positioned to benefit from future growth throughout Asia and the US,\" he said. \"We look forward to working closely with BlueScope to expand the product and customer base to grow earnings and maximise value for both parties.\" The new venture will be headquartered in Singapore and does not include BlueScope\'s building products businesses in Australia, China and India.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s bluescope in tieup with nippon steel Arab Today, arab today australia\s bluescope in tieup with nippon steel

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s bluescope in tieup with nippon steel Arab Today, arab today australia\s bluescope in tieup with nippon steel

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday