07
Nov
15:00
Whyalla waits patiently as Moly-Cop sold
Australia’s Arrium has announced the sale of its profitable mining consumables division Moly-Cop for $1.23 billion. The move marks the end of hopes that the company could be sold alongside the Whyalla steelworks but will help Arrium reduce its debt burden, sweetening the deal for an investor in the works, Kallanish notes.
US private equity firm American Industrial Partners will take control of Moly-Cop in a deal expected to be finalised in Januar…
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Anonymous
Very good overview of the weekly steel market.
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