Australia's BlueScope in tie-up with Nippon Steel
- Published: 13 Aug 2012 at 13.48
- Online news: World
Australia's struggling BlueScope Steel Monday announced a US$1.36 billion joint venture with Japan's Nippon Steel in a bid to tap new markets and help ease concerns over its balance sheet.
This file photo shows BlueScope Steel refinery in Port Kembla near Sydney, pictured in 2011. BlueScope on Monday announced a $1.36 billion joint venture with Japan's Nippon Steel in a bid to tap new markets and help ease concerns over its balance sheet.
The 50-50 joint venture, NS BlueScope Coated Products, will see Nippon Steel acquire half of BlueScope's interest in its Southeast Asian and North American building products businesses.
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