https://newsletter.en.creamermedia.com
Africa|Steel
Africa|Steel
africa|steel

AMSA’s shares rise on finalisation of Macsteel sale

5th November 2018

By: Marleny Arnoldi

Senior Deputy Editor Online

     

Font size: - +

Steel producer ArcelorMittal South Africa (AMSA) has finalised the sale of its 50% interest in Netherlands-based Macsteel International Holdings for nearly R3-billion to a subsidiary of Macsteel Holdings Luxembourg.

The sale is expected to strengthen the company’s balance sheets, amid continuing losses.

The JSE-listed steelmaker declared a headline loss of R2.52-billion for the year to December 31, 2017, following a loss of R2.59-billion in 2016.

During 2017, AMSA’s net borrowings also surged to R3.2-billion from R290-million in the previous year.

AMSA CEO Kobus Verster previously said the proceeds of the sale would “significantly strengthen the group’s balance sheet and would be used to fund working capital requirements and investments in the operating businesses.”

AMSA’s share price rose by 10.46% on Monday, to R4.33, compared with Friday’s closing share price of R3.92.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Head and shoulders shot of Amanuel
Structural shift under way
27th February 2026 By: Devina Haripersad
Engineering News editor Terence Creamer
2026 Budget highlights
25th February 2026 By: Creamer Media Reporter

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.038 0.159s - 140pq - 2rq
Subscribe Now