Further steel contract

Press, 4 February 1982, Page 18

Further steel contract

PA Auckland New Zealand Steel. Ltd has negotiated further sales of steel billets to Ferrostaal A.G. the West German trading concern. , y’ The contract, worth more than $1 million, brings New Zealand Steel’s export bookings for all products in the present financial year to about S7OM about SISM ahead of last year. Direct exports during the last eight years now total S4OOM with a further S2OOM added from the indirect exports by other local manufacturers using the products of the South Auckland steelmaker. The lastest contract with Ferrostaal is supplementary to an order, worth more than S4M completed with the trading organisation late last year. Ferrostaal is also the company which has proposed a

'-I , ,j J.v .* ' £-5 ’•** $ joint ventui-e iwitte New Zealand SteePto market slab and billet products from the expanded operations of the steel mill. Last week, three senior management representatives visited the Glenbrook mill for " preliminary discussions on the proposal. The visitors were Mr H. Gruber, the director of international steel trading, Mr H. Wippern, the commercial area manager for the Far East and Mr K. SchmidtReiche the managing director of Ferrostaal shipping interests. New Zealand Steel’s export manager, Mr R. P. Howard, said that international trading for steel products continued to be competitive. However, both contracts with Ferrostaal were satisfactory in terms of the price a tonne and the tonnages involved, he said.