Arrium – Our future is on your hands

According to the article from the Australian http://www.theaustralian.com.au/bus...l/news-story/d5837463efb9b52d5ec1f7f18d4cb90b,

Liberty House and its stablemate SIMEC as the ONLY remaining bidder left to buy Arrium Australia.
In addition, as reported in the article, federal government will not approve offshore bidder from acquiring Arrium Australia unless the company provides an undertaking that its Whyalla Steelworks remains open for between seven and 10 years

Debt Refinance Proposal
ASU has proposed a Debt Refinance Proposal to the major banks and the administrators KordaMantha as an effective and most sensible alternative option than selling off and liquidating the company to save jobs and to keep the nationally important assets in Australian hands.

Arrium – Our future is on your hands
http://arrium-asu.wixsite.com/fight...17/03/05/Arrium-–-Our-future-is-on-your-hands
March 5, 2017
  
One noticeable omission from the recent AFR article is to mention the ASU Debt Restructure/Refinance proposal which has been put on the table for the deed administrators, creditors, Australian Workers Union and South Australian Senator Nick Xenophon and Treasurer Tom Koutsantonis to consider.

Our proposal is significantly more superior than the sale proposal and it is absolutely viable with the support of the key stakeholders.

Our proposal ensures the Australia national interest and jobs are protected:

- Keep the strategic structural/long steel manufacturing and ports assets locally owned.

- Avoid foreign trade owner from progressively reducing domestic steel production and replacing the supply with imported overseas made steels to service domestic demand. One day we will lose our domestic long steel manufacturing forever otherwise.

- Avoid a monopoly pricing by the foreign trade owner to control the pricing and the supply of the important steel assets which could strangle the Australia economy with considerable negative implications to the national security in time of war and foreign trade conflicts.

-   Protect domestic jobs and workers conditions.


We ASU have been lobbying the governments and trade unions to take an urgent sensible stance to support our proposal (at the very least to engage, discuss and explore). Sitting in silence and letting the opportunity passed is not what the Australian public and the union members voted them for.


Please stand up and avoid making the wrong decisions for our future generations!