Original article by Tim Binsted
The Australian Financial Review – Page: 13 & 18 : 27-Oct-15

Shares in BlueScope Steel closed 10.6 per cent higher at $A4.50 on 26 October 2015, after the group revealed that its Port Kembla steelworks will stay open. BlueScope had previously warned that it would have to close the last blast furnace unless costs were reduced. BlueScope has negotiated a deal with Port Kembla workers which includes a wage freeze and job cuts, while the New South Wales Government will defer payroll taxes for three years. BlueScope will also buy out Cargill’s 50 per cent stake in the North Star mill in the US.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, CARGILL INCORPORATED, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES