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The steel manufacturing company Steel & Tube has recorded a large half-year loss, in line with forecasts, mostly because of a 37-million dollar write down in asset values. Audio
Building products company Steel & Tube is under pressure again as tough trading conditions prompt big write-offs and a large first half loss. Audio
Building products firm Steel & Tube has returned to profitability as it cut costs and repaid debt. Audio
Steel & Tube's biggest shareholder has sold its stake to an Australian steel maker after Fletcher Building scrapped its takeover offer earlier this week. Audio
Fletcher Building has withdrawn its takeover offer for Steel & Tube, after its increased puchase price was snubbed.
What is happening in business with commentator Rod Oram ; NZX rejects demands from an activist shareholder, Fletcher Building bids for Steel & Tube and Queenstown Airport to invest in Wanaka Airport.
The share price of Steel & Tube has dropped by nearly a quarter in early trading after the building supplies company said it would take a $54 million write-down.
Steel & Tube has pleaded guilty to criminal charges laid against it almost a year ago for misrepresenting its seismic steel mesh.
Steel & Tube chief executive Dave Taylor is resigning just shy of eight years in the role.
Steel & Tube's chief executive Dave Taylor has resigned. Audio
Shares in Steel & Tube have fallen sharply after it warned its full-year earnings have been hit by competition, delays and shrinking margins.
Analysis - Demand for a steel supply system New Zealanders can rely on matters more in the middle of a construction boom, writes Phil Pennington.
The prosecution of three steel companies shows the government has been negligent in monitoring building product quality, the Labour Party says.
The steel mesh in tens of thousands of NZ homes could compromise their insurance, major UK insurers have told a class action lawyer. Audio
Listed steel maker and building products company Steel and Tube's full year profit has risen nearly 20 percent on the back of an asset sale, but says there are signs world steel prices are improving.
The government's building watchdog has conceded there is real concern around steel supplies - but says that there is no actual evidence of problems with steel.
The NZ Transport Agency is trusting Steel and Tube to investigate itself, after the company imported 1600 tonnes of substandard steel for the Huntly bypass.
Playing down the threat of substandard steel that made it past New Zealand controls is reckless of the government, says a veteran global steel trader.
A top international testing organisation has been alerted to the Huntly steel failures and wants them investigated.
The contractors who imported 1600 tonnes of substandard steel for the $450m Huntly Bypass were warned the deal was too good to be true.