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Big River Steel reviewing strategic alternatives for possible sale- -The 20th China (Guangzhou ) Int’l Casting product Exhibition
8/31/2018 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Talk Business reported that several high profile steelmakers and investment groups are said to be bidding for the assets of Big River Steel LLC in Northeast Arkansas, as billions of dollars pour into the industry after President Donald Trump imposed tariffs on cheap steel imports from China and US allies. In a response to Talk Business & Politics, a Big River spokesperson said the company was fielding funding offers and reviewing “strategic alternatives” amid the domestic steel industry’s recent upswing as the gap between US and international steel prices has widened.
Since the Trump administration in March imposed USD 200 billion in tariffs on steel and aluminum against China and US allies in Europe, Canada and Mexico, the US has collected an extra USD 1.4 billion in revenue, Department of Commerce data show. As talks continue that could impose further tariffs on China, administration officials estimate another USD 6 billion could be collected by the end of 2018.
The company spokesperson said that “Big River Steel is in the midst of a historic ramp up in terms of both product capability and profitability. This success has attracted the attention of the world’s steelmaking and financial communities resulting in some looking to align with Big River Steel. As a growth-oriented company, Big River Steel is constantly evaluating various strategic options and funding alternatives.”
In Wall Street parlance, large companies exploring strategic alternatives usually hire a financial advisor to assist the company in reviewing offers and handling the auction process. For Big River, that would likely include setting up a virtual data room or scheduling site visits that allow serious bidders to conduct due diligence on the finances and operations of the company’s sprawling 1,300-acre site in steel-rich Mississippi County.
铸件展-铸件采购会-国际铸件展-2019第二十届广州国际铸件展会-巨浪展览
-The 20th China (Guangzhou ) Int’l
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Casting Expo,
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