The federal and South Australian governments have announced $2.4 billion in support for the Whyalla Steelworks, following the SA government’s move on Wednesday to put the site’s owner in administration. In a statement on Thursday, it was revealed that the assistance will come in “three distinct parts”, comprising $100 million in immediate on-the-ground support, $384…
The South Australian government is pushing through legislation to move the Whyalla Steelworks into administration, allowing the state to take control of the facility.
GFG Alliance executive chairman Sanjeev Gupta said on Sunday that the Whyalla steelworks is generating between $13 million and $14 million in weekly turnover, with hopes of reaching break-even by mid-year. The announcement followed last week’s agreement with global creditors, ending a four-year process triggered by the collapse of GFG’s former financier, Greensill. The steelworks,…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) CEA Technologies wins $272 million Army radar contract A $272 million purchase by the federal government will see defence electronics company CEA Technologies deliver “up to 14 multi-mission phased array radars (MMPARs) for the Australian Army”. According to a short announcement from…
In response to mounting pressures to settle substantial debts, the owners of Whyalla Steelworks, led by GFG Alliance’s chairman Sanjeev Gupta, are actively pursuing new financing solutions to sustain operations. This development follows intense scrutiny from South Australia’s Premier, Peter Malinauskas, who recently visited Whyalla to engage with creditors and reinforce the urgency of financial…
Convergence Medical appoints new advisor Surgical robotics startup Convergence Medical, which announced a $US 5 million Series A round last month, has added Dr Kevin Plancher to its team as a strategist and advisor. In a statement from the company on Linkedin, the orthopaedic surgeon was quoted as saying “I am looking forward to working…
Premier Peter Malinauskas has issued a stern warning to GFG Alliance’s Sanjeev Gupta, urging transparency and immediate action on overdue financial commitments as concerns mount over the future of the Whyalla Steelworks in South Australia. Amid reports of significant arrears in royalties and payments to contractors, the Premier emphasised the need for Gupta to prioritise…
The South Australian Minister for Infrastructure and Transport, and Minister for Energy and Mining Tom Koutsantonis has held an ‘urgent meeting’ with operators of the troubled Whyalla steelworks, emerging confident that the blast furnace would be up and running within a week. However Koutsantonis has ‘grave concerns’ about unpaid bills, according to media reports, with…
Steel manufacturer and distributor InfraBuild has become the first distribution business in Australia to secure accreditation under the Australian Steel Institute’s traceability standard. With the ASI, Steel Compliance Australia has awarded InfraBuild Steel Centre Dandenong the accreditation under AS/NZS 5131. The Australian Steel Institute amended the current standard to include traceability measures in the current…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) Licella, Shell partner to pursue biomass-to-aviation fuel processing Recycling technology company Licella has announced a new partnership with the decarbonisation division of Shell, applying the two companies’ collective expertise to biofuels, particularly sustainable aviation fuels (SAF.) In a statement on…