1,000 job losses at BlueScope due to A$1.05 billion annual loss

Tuesday, 23 August 2011 12:27:20 (GMT+3)   |  
       

Australia-based steelmaker BlueScope Steel has announced a major restructuring program after reporting an A$1.05 billion (US$1.09 billion) annual loss in FY 2010-11 ended June 30, 2011.
 
According to the company statement, its No. 6 blast furnace at Port Kembla and its Western Port Hot Strip Mill will be shut down. As a result, BlueScope will quit export business and its steelmaking production will be in line with Australian steel demand. The No. 4 coke-making battery, No. 3 BOF steelmaking furnace and No.1 slab caster will also be shut down within the scope of the restructuring program, while hot strip and cold rolling mills, metal coating and paint lines will continue to operate. BlueScope Steel stated that all these closures will result in 1,000 job losses, 800 at Port Kembla and 200 at Western Port.
 
Following the announcement by BlueScope Steel, Australian miner BHP Billiton Illawarra Coal stated that it will provide support for those who are affected by the restructuring program, establishing an on-line job centre to take applications. BHP Billiton announced that it will employ 50 more people at its Illawarra coal operations and also take applications from anyone willing to work in its Queensland coal operations where more than 750 job vacancies currently exist, or in iron ore operations in Western Australia where 600 vacancies exist.