BlueScope applies for $100m in govt industry assistance

12/12/2011 - BlueScope Steel has applied for $100 million of industry assistance from the federal government.

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BlueScope said it had applied for the money under the government's Steel Transformation Plan, designed to assist the steel industry as the carbon pricing scheme was introduced, which became available on Friday.

BlueScope chief executive Paul O'Malley said the steel industry assistance was evidence that the government wanted a viable, competitive and innovative steel industry.

He added that the government's payment, together with the recently announced capital raising, asset sales and the restructure of the Australian operations would help return the company to profitability and growth.

Source: AAP NewsWire

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