STU - Steel & Tube Holdings

[sideline]

I can't see the issue. It is standard industry practice and legal for them to do their own testing. The only issue was that the testing laboratoy they used to use was still on the certification form. This was discovered during an internal audit.

Agree, i still think it's a beat-up.
I actually listened to the story on National Radio when it 'broke' and could hardly believe how often the interviewer
managed to mention 'Steel and Tube' in the article - there was no mentioning of the other two (importing) companies
whose products actually had been found to be wanting and were under investigation by ComCom. The uproar was all about the
inappropriate stamp on the paper. Made me wonder about the quality of that journalism and whether other interests
are at play in that story and the way it is reported.

Today I see that somebody labelled 'top-lab' opines that inhouse testing can not be trusted - maybe somebody
trying to drum up some more business for themselves??

[Joshuatree]

If the in house testing is above board then things will smooth out; if its not certified but robust enough it will work out; maybe a big fine, maybe have to pay a certified tester; an expense; if its not certified and not up to standard it will be one huge mess maybe like leaky homes or worse.The CEO did sound less then transparent.

[sideline]

If the in house testing is above board then things will smooth out; if its not certified but robust enough it will work out; maybe a big fine, maybe have to pay a certified tester; an expense; if its not certified and not up to standard it will be one huge mess maybe like leaky homes or worse.The CEO did sound less then transparent.

I agree that the CEO seemed to treat the issue just as a documentation issue (which they discovered and reported themselves)
and management were obviously a bit surprised by the spin the merchants of doubt at RadioNZ put on the story.

There was no such hysteria when two weeks ago the other two companies were forced by ComCom to stop selling their sheets because
they were actually found to be somewhat below the new standards required since the Christchurch earthquakes. 400000 of those sheets have been
already used in construction but nobody talked about a 'huge mess'. The talk at that time was that because the new standards were so much
higher than the previous ones the users of those sheets wouldn't need to worry.

[Joshuatree]

One reason I listen to National Radio precisely because of their accuracy, honesty and intent to get to the truth about things. There is no bull dust spin here (except maybe in the wine and food programmes . If you want spin go to Mike hosking and co.

This subject about reinforcing has triggered re my int in EDE Eden on the ASX. they have a concrete additive which strengthens and causes less abrasion and shrinkage to concrete; maybe even eliminating the need for so much reinforcing in some situs. Their edge is that they know how to spread the carbon nanotubes evenly through the mix (patented i think)I hold a parcel of shares

[macduffy]

I listen to National Radio - or RNZ as they persist in calling it these days ( I keep expecting to hear an "AF" or an "N" to complete it! ) but can't help feeling that they have either latched on to what they regard as a scoop - no one else seems to treat the matter with the same persistence - or maybe that they have been fed some lines by a vested interest. I hope so anyway, as I'm still holding a modest pot of STU.

[Joshuatree]

Still holding some in our family trust. They've been persisting along time.Kim Hill used to create some sparks when she was on every weekday 6-9 with her drilling in style, polarising,Geoff Robinson a lovely guy but didn't haven't enough authority to get to the bottom of things. Current presenters really try and i love that persistence.But one can only do so much when the interviewee plays"no comment" or talks politic speak' or all around it

[Under Surveillance]

CEO was distinctly unimpressive on the TV3 news item I saw. I doubt Sir John Anderson (Chairman) would allow any deceitful behaviour by SKL executives over certification, though I do recall that STU failed to face up to a debt to Levines (?) over a building rental and got dragged through the courts over it a year or so ago with Sir John at the helm.

[winner69]

I listen to National Radio - or RNZ as they persist in calling it these days ( I keep expecting to hear an "AF" or an "N" to complete it! ) but can't help feeling that they have either latched on to what they regard as a scoop - no one else seems to treat the matter with the same persistence - or maybe that they have been fed some lines by a vested interest. I hope so anyway, as I'm still holding a modest pot of STU.

The beat up continues - doesn't meet standards
http://www.radionz.co.nz/audio/player/201794316


http://www.radionz.co.nz/audio/player/201794316

Corporate reputation/risk balanced about maximising profits for shareholders is tricky stuff ....bugger forgot maximising management bonuses

[Joshuatree]

If the in house testing is above board then things will smooth out; if its not certified but robust enough it will work out; maybe a big fine, maybe have to pay a certified tester; an expense; if its not certified and not up to standard it will be one huge mess maybe like leaky homes or worse.The CEO did sound less then transparent.

Lets hope its not industry wide but maybe it is.

[macduffy]

A certain degree of backtracking by NZR this morning - shortly before 7.30am - from the claims made last week against STU. I didn't catch it all but didn't actually hear the word "apology"! Was anyone paying closer attention?