OneSteel

All you want to know about OneSteel

OneSteel Limited
Type Public ASX:OST)
Founded 2000 following separation from parent company BHP
Headquarters Sydney, Australia (main headquarters); operations in Australia and New Zealand
Key people Peter Smedley (Chairman, Non Exec. Director)
Geoffrey Plummer (Executive Director, Managing Director, CEO)
Industry Mining, Manufacturing
Products iron, steel products
Revenue ▲$4.030 billion AUD (Y.E. 30 June 2006)
Net income ▲$132.5 million AUD
Employees 7,527
Website onesteel.com

OneSteel is an Australian-based mining, ore processing and steel manufacturing company specialising in long-steel products for the construction, housing and agricultural industries. The company is a former subsidiary of BHP and was separated from the parent company as part of its corporate restructure in October 2000[1]; the parent went on to merge with Billiton to form the company BHP Billiton, the world's largest mining company. Onesteel comprises 0.23% of the S&P/ASX 200 index.

Contents

Major Divisions of Company

The company has four primary divisions:[2]

  • Whyalla Steelworks - The main manufacturing division, producing raw steel at a rate of approximately 1.2 million tonnes per annum at an integrated steel mill. Primary uses for the product are rails, structural products and steel slabs. Ore is sourced from the OneSteel mines in the Middleback ranges.
  • Market Mills - Also a manufacturing division, this division produces rod, bar, wire, pipe and tubular steel. Operations include an EAF melting operation, billet caster and bar mill at the Sydney Steel Mill, Western Sydney; a wire, rod and bar mill in Newcastle; and other wire and tube mills located around south-eastern Australia.
  • Domestic Distribution - Distribution of products within the Australian market, including 50 Metaland franchises, retail outlets for consumers in regional Australia. It also includes numerous sites for distribution of products created at the Whyalla Steelworks and the Market Mills.
  • International Distribution - Based in New Zealand, via the company's majority holding in the New Zealand company Steel & Tube Holdings Limited. Production and sales include rolled plate, light gauge steel, reinforcement and roofing products. In April 2003, Through Steel & Tubes Holdings Ltd.'s acquired the assets of another New Zealand company, Hurrican Wire Products, expanding operations to include the sale and production of other wire products from facilities in Auckland and Christchurch, New Zealand.

Recent events

In June 2006, an agreement was announced where OneSteel would be buying out scrap metal company Smorgon Steel for $USD 1.2 billion.[3] However, concerns by the Australian competition regulator, the Australian Competition and Consumer Commission (or ACCC) have resulted in significant delays in this process; as have concerns from Australian construction industry trade unions regarding possible job losses from the merger of the two operations.[4] This merger was completed in August 2007 [5].

On 15 February 2008 it was announced that one of the bar mills in the Hunter Valley and the mill in Melbourne would be closed. [6].

References

  1. ^ OneSteel Ltd - Company Profile and Status
  2. ^ OST.AX: Profile for ONESTEEL FPO - Yahoo!7 Finance - Share Prices, Charts, News and more
  3. ^ FT.com / In depth - OneSteel buys Smorgon Steel for A$1.6bn
  4. ^ Union concerned over OneSteel, Smorgon merger. 23/08/2006. ABC News Online
  5. ^ OneSteel lays of 270 workers, unions howl. 15/02/2008. LiveNews.com.au
  6. ^ OneSteel lays of 270 workers, unions howl. 15/02/2008. LiveNews.com.au

See Also

External links

Retrieved from "http://en.wikipedia.org/wiki/OneSteel"

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