Arrium Back From The Brink
Arrium, Australia’s second steelmaker is on the way back, so will anyone buy the shares if the company returns to the market in the next two years after the rotten performance in 2014-16?
Read MoreArrium, Australia’s second steelmaker is on the way back, so will anyone buy the shares if the company returns to the market in the next two years after the rotten performance in 2014-16?
Read MoreThe future of Arrium, Australia’s second largest steel producer has become a lot clearer with a Korean consortium beating a UK offer to enter into the final negotiations buy the company.
Read MoreIn a move that will rattle the Federal election campaign especially in South Australia, Arrium, the country’s second biggest steelmaker, has been put into voluntary administration with debts of more than $4 billion, making it one of the largest corporate collapses in Australia since the GFC.
Read MoreThe future of Arrium, the country’s number 2 steelmaker, looks more confused this morning after it missed a self-imposed deadline of yesterday to reveal new refinancing and management changes.
Read MoreA refinancing plan for staggering steelmaker, Arrium could be revealed today, along with the board and senior managers falling on their swords to assuage lenders upset by the way the company has sought a near billion dollar financing package from GSO – the credit arm of Blackstone, without telling the banks.
Read MoreThe future of Arrium and its steelmaking business and iron ore operations in South Australia is up in the air after the company’s banks rejected a near $1 billion recapitalisation offer from an arm of the giant Blackstone financial group.
Read MoreLess than a week after warning it was looking at closing down or cutting steel production from its Whyalla facility in South Australia, Arrium (ARI), the country’s number two steelmaker has revealed a bailout from an investor associated with the giant Blackstone financial group of the US – the world’s biggest fund manager.
Read MoreStruggling steelmaker, Arrium (ARI) has sent a tremor through business and politics in South Australia and elsewhere with a warning yesterday it might have to close its huge plant at Whyalla because of rising costs.
Read MoreMore gloomy news yesterday from troubled steel and iron ore mining group Arrium (ARI) yesterday as it took a whack from another round of write downs.
Read MoreThe near 40% rebound in the global iron ore price since early April (to just over $US65 a tonne from that early April low of around $US46 a tonne), hasn’t helped one of Australia’s major middle ranking iron ore exporters – the steel maker and miner, Arrium (ARI).
Read MoreThe toughness of the iron ore market and staying competitive was underlined yesterday in the quarterly report from Arrium (ARI), the steelmaker with a shrinking iron ore mining and export operation in South Australia (the old OneSteel).
Read MoreComplaining about inaction by Canberra on its anti dumping complaints, as Arrium (ARI) CEO, Andrew Roberts yesterday did to media and analysts will only serve to drag attention back to the gorilla in the balance sheet – the $1.5 billion net loss for the six months to December 31.
Read MoreArrium Limited (ARI) has joined the growing list of write downs in the Australian iron ore industry, revealing cuts totalling a net $1.3 billion in a statement to the ASX on Friday morning and cuts to spending for 2015 and beyond.
Read MoreArrium (ARI) chair Peter Smedley used his final AGM yesterday to reinforce a now familiar message to shareholders – that the controversial $754 million capital raising in September, has made the company better off and able to withstand the downturn in iron ore prices.
Read MoreSteel and mining group Arrium (ARI) reported record iron ore shipments for the September quarter, but as expected the 40% collapse in iron ore prices has slashed the group’s margin per tonne of ore exported.
Read MoreIron ore miner and steelmaker Arrium (ARI) has completed the first stage of its $754 million capital raising as it looks to pay down its debt, sending the share price down 38% as the shares were re-listed yesterday.
Read MoreArrium (ARI), Australia’s 4th biggest iron ore exporter and steelmaker is battening down by looking to raise $754 million via a placement and a highly discounted one for one cash issue.
Read MoreOnce again iron ore exports have come to the rescue of the country’s second steelmaker, Arrium Ltd (ARI).
Read MoreThe damage done to the revenues of iron ore exporters by the global slump in prices in the June quarter was there for everyone to see in yesterday’s production and exploration report for the three month period from Arrium (ARI), which ships ore from its mines near its steel plant in Whyalla, South Australia.
Read MoreSteelmaker and iron ore exporter, Arrium (ARI) (the old OneSteel), got publicity yesterday for revealing another round of job cuts in its presentation to the big Macquarie Group Australia investment conference.
Read MoreThe iron ore industry isn’t just BHP, Rio Tinto (RIO) and Fortescue (FMG) plus a group of WA-based tiddlers – Arrium (ARI), the South Australian based steelmaker with an iron ore business sideline, is often left out of industry comparisons. Unfairly, given the latest half year surge in sales and earnings that helped Arrium to a sharp turnaround in profit in the six months to December.
Read MoreMining and materials group Arrium has reported a strong rise in underlying profit of 294% to $201 Million reflecting the recent transformation.
Read MoreAnother whiff of confidence from investors about a sector that has been on the nose in the past year or so – steel – specifically the shares of our Number 2 steelmaker, Arrium (ARI) (the old OneSteel).
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