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Government welcomes sale of Arrium

5 July 2017

The Government welcomes KordaMentha’s announcement today that GFG Alliance will be the new owner of the Arrium companies, which includes the Whyalla steel works.

GFG has executed a share sale agreement with KordaMentha and will therefore purchase the business. The agreement for the purchase is subject to approval by the Foreign Investment Review Board.

This is a welcome development and provides certainty for the workers at Arrium, the people of Whyalla and the future of the Australian steel industry.

I have worked closely and constructively with the SA Government and KordaMentha on this outcome. The Turnbull Government is determined to achieve a sustainable and globally-competitive steel industry in Whyalla to be benefit of the people of Whyalla, South Australia and the nation.

I look forward to working with GFG on this outcome. 

Media contact: Minister Sinodinos' office 6277 7070