Brookfield, POSCO and Liberty House have been named as potential bidders for Arrium’s steel assets. The Australian Workers’ Union says Arrium’s businesses need to be modernised. POSCO is believed to have plans to upgrade the Whyalla steelworks and increase the capacity of the plant by up to 50 per cent. POSCO’s intentions were discussed at a meeting in South Korea with Australian officials, including Federal Industry Minister Greg Hunt, South Australian Treasurer Tom Koutsantonis and the AWU’s Scott McDine.
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