Posco has directly contradicted industry minister Greg Hunt, who made a statement yesterday saying Posco had “strong desire” to buy and upgrade Arrium’s Whyalla steelworks, claiming they were only offering to sell their technology to Arrium. A spokesman for Posco told Reuters that, “Posco has not participated in bidding to buy Arrium,” as was widely … Continue reading All a misunderstanding? Posco contradicts Hunt, says it’s not bidding for Arrium
American Industrial Partners has reportedly purchased Arrium’s Moly-Cop grinding media business for $US1.23 billion (about $1.6 billion) according to a report this morning.
CSR has announced this morning that it has agreed to buy Boral’s 40 per cent stake in their joint venture, the east coast brick and paver business trading as PGH Bricks & Pavers.
Creditors have been told by Arrium administrators KordaMentha that the company should be sold to the highest bidder, rather than liquidated, and that the group may have traded while insolvent prior to its April collapse.
Tesla has posted its first quarterly profit in eight quarters, also beating its best performance in deliveries.
Britain’s wealthy Gupta family is reportedly interested in Arrium’s steel and iron assets.
Malcolm Turnbull’s Innovation Agenda focused attention on startups and technology-driven innovation, but this is not enough to overcome the broader problems inhibiting innovation in Australia. Businesses may be looking to the government to ease red tape as a means to increase innovation but what’s really blocking innovation is the short-term view of senior executives, our research finds.
Cochlear’s chairman Rick Holliday-Smith has said federal savings measures targeting R&D tax incentives could see the company move research activities a out of Australia.
Tesla has announced an expansion of its collaboration with Panasonic Corp, with a letter of intent for production of photovoltaic cells and modules at Buffalo, New York.
Orora’s annual general meeting heard that the company expects to continue growth through acquisitions, and that first-quarter results were beating expectations, despite “subdued” conditions in its major markets.
Full production is expected to return at Arrium’s Whyalla steelworks tomorrow, following the September 28 South Australian blackout.
Arrium’s administrators have received about 20 expressions of interest, with non-binding offers coming through over this month and final bids due in December for the collapsed iron ore and steel company.
Don’t miss out: it’s now easier to claim Research and Development (R&D) activities than ever before, as Alan Johnson reports.
According to a report today, there is about half a dozen parties currently interested in Moly-Cop, and whether the grinding media business is bought or floated is expected to be known in October.
The first batch of steel to be used to upgrade the fast-tracked Adelaide-Tarcoola rail line upgrade will be produced at Arrium’s Whyalla steelworks today.
A group of research analysts will attend briefings at Moly-Cop’s Waratah headquarters, as they prepare to write pre-marketing reports and efforts to sell the grinding media business step up.
The country’s biggest plastic packaging manufacturer, Pact Group, has announced that it will acquire Australian Pharmaceutical Manufacturers for $90 million, continuing the company’s aggressive goal of building its revenues to $5 billion through acquisitions.
Joy Global has released their third quarter results for this year, signalling a plummet in sales compared to 2015.
According to a report today, losses at Arrium’s Whyalla steelworks have been reduced to an estimated $11 million for next financial year, though doubts remain that it will attract a buyer.
Dairy co-operative Murray Goulburn has increased net profit by 61.2 per cent, despite a turbulent year in which it retrospectively cut its farmgate milk price.