"The group will now begin a 100-day review of the business and finalise a transformation plan to make the 6000-worker enterprise sustainable. This will include finalising capital investments across sites, utilisation of excess production capacity, reduction in raw material costs, greater energy efficiency, development of new high-value added products and services for the Australian market and increasing export of iron ore and steel products.
The group will be investing 1 billion US dollar across the Whyalla steelworks and mining businesses for modernisation and expansion."
AGS Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
