SteelOrbis Shanghai
Cheung Kong Infrastructure Holdings Limited has recently announced its purchase of the whole share of NZSteeling, a subsidiary of the largest steel producer in Australia, Bluescope Steel, at cost of HKD1.393 billion. NZSteeling has been operating Taharoa Iron Sands business in Auckland, New Zealand. Its unexamined earning before tax (EBT) was HKD26 million as of June 2007, and HKD64 million as of June 2008.
Cheung Kong Infrastructure Holdings Limited is an infrastructure investment company with diversified businesses, mainly focusing on the development, investment and operation of the infrastructure programs. The company expressed that the purchase of NZSteeling was in line with the company's strategic insight in seizing the investment opportunities and expanding the infrastructure business in New Zealand.