CONSTRUCTION company Fletcher Building has agreed to sell its Pacific Steel Group business for $NZ120million ($F187m) to Australia’s BlueScope.
The announcement in Suva last week marked the transformation through an integration phase and a bigger vision for the future.
Australia’s BlueScope used its subsidiary, New Zealand Steel, to make the purchase.
BlueScope Pacific Steel ( Fiji ) Pty Ltd general manager Stuart Hill said the company had the commitment, worldwide support and resources of the BlueScope dream. “We have the solution, which is complete and cost effective. It will be certified and code compliant to ensure peace of mind and longetivity.”
Minister for Industry and Trade Faiyaz Koya said the development was timely for the company especially with a boom in the local construction industry.
