Shares in BlueScope rose up as much as 5.5% to $9.97 on Thursday after the company unveiled a blueprint which will focus on the company's Australian and New Zealand domestic business.
Managing director Paul O'Malley outlined a renewed strategy and direction for the Company at an analyst and media briefing in Sydney.
"The blueprint will build on BlueScope Steel's outstanding heritage and capabilities. With a stronger customer emphasis, we will concentrate on growing steel use in our domestic markets, as well as driving manufacturing excellence, optimising procurement, enhancing our supply chain and improving our capital planning, to drive improvement in shareholder value."
The company said it had identified more than 200 different blueprint initiatives, and is hoping to deliver outcomes over the next three years.
Simply put, BluePrint initiatives are projects, upgrades and plans the company is undertaking into the future. "For example, at Port Kemble Steelworks we are undertaking a feasibility study for an approximately $1 billion co-generation plant," O'Malley said.
BlueScope is Australia's largest steel producer with operation s in Australia, New Zealand, Asia and United States.
Shares in the company finished the day 35 cents up at $9.80.
