AUSTRALIAN IRON AND STEEL.

Evening Post, Volume CVII, Issue 19, 24 January 1929, Page 13

AUSTRALIAN IRON AND STEEL.

There is a. fair holding. o£ preference shares in New Zealand in Australian Iron and Steel, Ltd. The company reports that sales for the three months to the end o£ November last were a record, and continued improvement is expected, with further extensions to inter-State, markets, and reduced manufacturing costs when the Port Kembla steel units and pipe shops are in operation. A shipment of 4074 tons,, being portion of the special rolling mill plant purchased from Baldwins, Ltd., England, has been unloaded at Port Kembla, Some of the necessary buildings and craueways to house this plant have already beeu erected.and others are in courseof erection. The steamer Belnioira was specially chartered to bring out this plant/ which comprised its complete cargo direct to Port Kembla from Wales. The remainder oi> the plant, together with other- special machinery and tools, purchased abroad, i» being loaded into tho steamer Belpainfila, This boat should arrive at Port Kembla about the middle of March. The blast furnace at Port Kembla has been in opera^ tion since August, and is exceeding expectations in every way. The directors are confident that the rolling mill, 1! steel furnaces, de Lavaud pipe shop, etc., mil yield equally excellent results. The steelworks and collieries at Lithgow, the pipa shops at Sydney, and other units of the: business are stated to be operating most satisfactorily; ■ ■