Originally Posted by
Snoopy
This is really sad and it looks like I may have had a lucky escape. I was an indirect shareholder in STU for many years through my shareholding in ASX listed Arrium. I considered buying a serious direct sized STU stake, just to take advantage of the imputation credits that I wasn't getting with my Arrium holding. What put me off was how relatively unprofitable the Arrium held steel supply business on the Australian side of the Tasman was. I became uneasy that if they couldn't make a really good go of it 'over there', why are we in a much smaller market so much more profitable? What today's event tells me is that, fundamentally the steel supply business is tough on both sides of the Tasman.
SNOOPY