Ironworkers call BHP bid disgrace
NZPA-AAP Sydney A BHP move to acquire 100% of New Zealand Steel was a disgrace, the Federated Ironworkers’ Association said yesterday. It was scandalous that BHP was part of a consortium investing sAust2s3 million (SNZ326M) in New Zealand to increase the company’s production of steel, the national secretary, Mr Steve Harrison, said. BHP Steel chief executive, Mr John Prescott, said the reason for the investment was to bring operations in New Zealand to capacity and to meet a shortfall of steel supply in Australia. However, Mr Harrison said the shortfall was BHP’s fault because its current policy was to restrict the amount of steel produced in Australia. BHP was given millions of dollars by the
Australian taxpayer under the recently concluded steel plan to help it moderate itself and increase its international competitiveness, Mr Harrison said. "Now it is spitting in the Australian taxpayers’ faces by making up its shortfall through New Zealand investment.” BHP’s steel monopoly should be broken by introducing overseas steel companies into Australia, he said. Australia had a great chance of securing a sAust4 billion steel mill by the China Steel Corporation of Taiwan, which would provide more than 15,000 jobs in Australia. Executives from China Steel were now negotiating with federal and state government representatives and the Federated Ironworkers’ Association on the project, Mr Harrison said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890729.2.109.27
Bibliographic details
Press, 29 July 1989, Page 27
Word Count
226Ironworkers call BHP bid disgrace Press, 29 July 1989, Page 27
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.