Australian electric arc furnace (EAF) steelmaker Smorgon Steel Group Ltd. is being purchased by steel products maker OneSteel Ltd., also an Australian-based company.
According to a Bloomberg report, OneSteel has agreed to pay more than $1.5 billion (Australian) for Smorgon’s assets and operations, which include scrap processing facilities and EAF furnaces.
Smorgon’s board of directors has unanimously recommended the offer to shareholders, with a vote scheduled for this October.
OneSteel makes and distributes tubes, pipes and other steel products for construction, automotive and other applications, producing about 1.7 million tons per year of steel products.
Smorgon makes more than 900,000 tons of new steel, predominantly using scrap as a feedstock. It has scrap processing facilities not only in
Get curated news on YOUR industry.
Enter your email to receive our newsletters.
Latest from Recycling Today
- AF&PA report shows decrease in packaging, printing-writing shipments
- Report claims bottled water growth rate outperforms other packaged drinks by volume
- WasteVision AI partners with Samsara
- Ragn-Sells receives Sweden’s Best Managed Companies recognition
- Aduro commissions Delphi to conduct analysis of Hydrochemolytic technology
- Cyclic Materials, Lime announce partnership
- LiuGong debuts equipment at WasteExpo 2025
- Commentary: The role of insurance in supporting critical minerals recycling in the UK
