| Type | Public (ASX: OST) |
|---|---|
| Industry | Mining, Manufacturing, Metals Distribution |
| 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) |
| Products | iron ore, steel products |
| Revenue | A$7.3 billion (Y.E. 30 June 2009) |
| Net income | A$229.5 million |
| Employees | 11,000 |
| Website | onesteel.com |
OneSteel is an Australian-based mining, ore processing and steel manufacturing company specialising in steel-long products for the construction, mining, transport 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.
OneSteel has 11,000 employees, over 300 locations and 13 offshore facilities, 40,000 products and over 30,000 customers.
Contents |
The company has four primary divisions:[2]
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.[5]
On 15 November 2010 OneSteel agreed to acquire two companies, Chile-based forged steel grinding balls producer Moly-Cop and Canada-based producer of ball stock for forged grinding balls AltaSteel for a total of $932 million.[6]