Smorgon Steel

Smorgon Steel was an Australian steel manufacturing company that became the last remaining part of Smorgon Consolidated Industries, the diversified industrial group established by Victor Smorgon in 1958. The company operated in steel production and related industrial materials, including structural products and welded mesh, and also had interests connected with engineering and metal-product manufacturing. Its development reflected the consolidation of Australia's steel and industrial-products sector. In December 1998, Smorgon Steel acquired Australian National Industries, expanding its industrial manufacturing base. The company subsequently became a publicly traded business when it was floated on the Australian Securities Exchange in February 1999. Earlier, in 1997, it had purchased Welded Mesh, a structural-materials business, from Leighton Holdings. These transactions strengthened Smorgon Steel's position across steel products and associated manufacturing activities. Smorgon Steel also controlled or operated businesses outside its core steelmaking activities. Bradken, an engineering and metal-products business associated with the group, was sold in December 2001 to Castle Harlan Australian Mezzanine Partners. The disposal illustrated the group's effort to reshape its portfolio around its principal steel and distribution operations. The company's independent existence ended in 2007. Smorgon Steel merged with OneSteel, creating a larger Australian steel business. As part of the transaction, Smorgon Steel's distribution operations were sold to BlueScope. The merger brought the Smorgon Steel corporate brand to an end as a standalone listed steel company. Its history is therefore tied both to the expansion of Australian steel manufacturing and to the broader restructuring and consolidation of the country's metals industry.

Smorgon Steel originated within the industrial interests built by Victor Smorgon and the Smorgon family. Smorgon Consolidated Industries was founded in 1958 and developed into a diversified Australian business group. Smorgon Steel ultimately became the group's last remaining major operating business, focusing on steel manufacturing and related industrial products. The company expanded through acquisitions and portfolio development. In 1997, it acquired Welded Mesh from Leighton Holdings. Welded mesh is used in structural and construction applications, and the transaction broadened Smorgon Steel's presence in structural materials. In December 1998, the company took over Australian National Industries, adding further industrial and steel-related operations to its business base. Smorgon Steel entered the public market in February 1999, when it was floated on the Australian Securities Exchange. The listing provided a public-company structure during a period in which Australia's steel and manufacturing industries were undergoing consolidation and strategic restructuring. The group also reviewed and reshaped businesses connected with its wider industrial portfolio. Bradken was sold in December 2001 to Castle Harlan Australian Mezzanine Partners. The sale separated that business from Smorgon Steel and reduced the breadth of the company's operations beyond its principal steel activities. In 2007, Smorgon Steel merged with OneSteel. The transaction consolidated major Australian steel interests and ended Smorgon Steel's independent corporate identity. Smorgon Steel's distribution operations were sold to BlueScope as part of the restructuring. After the merger and disposal, Smorgon Steel was no longer an independent operating or listed company. Its corporate history is consequently best understood as part of the evolution of Smorgon Consolidated Industries and the consolidation of Australia's steel manufacturing and distribution sector.

• 2007

  Merger with OneSteel

  [1]Smorgon Steelen.wikipedia.org

  Smorgon Steel merged with OneSteel, while its distribution operations were sold to BlueScope.

• 2001

  Bradken divestment

  [1]Smorgon Steelen.wikipedia.org

  Bradken was sold in December to Castle Harlan Australian Mezzanine Partners.

• 1999

  Australian Securities Exchange flotation

  [1]Smorgon Steelen.wikipedia.org

  Smorgon Steel was floated on the Australian Securities Exchange in February.

• 1998

  Australian National Industries takeover

  [1]Smorgon Steelen.wikipedia.org

  In December, Smorgon Steel took over Australian National Industries.

• 1997

  Acquisition of Welded Mesh

  [1]Smorgon Steelen.wikipedia.org

  Smorgon Steel purchased Welded Mesh, a structural-materials business, from Leighton Holdings.

• 1958

  Smorgon Consolidated Industries is founded

  [1]Smorgon Steelen.wikipedia.org

  Victor Smorgon founded Smorgon Consolidated Industries, the diversified industrial group from which Smorgon Steel later emerged as the final remaining major business.

An Australian industrial steel and metal-products company with manufacturing, structural-materials, engineering, and distribution activities.

• Construction and structural materials

  Structural steel materials

  Smorgon Steel supplied structural materials for construction and industrial uses. The company's acquisition of Welded Mesh in 1997 expanded this part of its portfolio and connected the business with fabricated steel products used in structural applications.

• Steel reinforcement and mesh products · 1997

  Welded Mesh

  Welded Mesh was a structural-materials business acquired by Smorgon Steel from Leighton Holdings in 1997. Its products formed part of the company's construction-oriented steel portfolio.

• Steel and metal products

  Steel manufacturing and distribution

  The company's central business comprised steel manufacturing and associated distribution activities in Australia. These operations were reorganized when Smorgon Steel merged with OneSteel in 2007, with the distribution operations sold to BlueScope.

• 2007

  Merger with OneSteel and distribution-operations saleM&A

  Background

  The Australian steel industry was undergoing corporate consolidation, and Smorgon Steel pursued a combination with OneSteel.

  Action taken

  Smorgon Steel merged with OneSteel, while its distribution operations were sold to BlueScope.

  Aftermath

  The merger ended Smorgon Steel's status as an independent company and brought its standalone brand and listing to an end.

  Source

• 2001

  Sale of BradkenStrategy

  Background

  Smorgon Steel reviewed its portfolio of industrial businesses and separated Bradken from its core operations.

  Action taken

  Bradken was sold in December 2001 to Castle Harlan Australian Mezzanine Partners.

  Aftermath

  The divestment reduced Smorgon Steel's non-core industrial holdings and transferred Bradken to new ownership.

  Source

• 1998

  Takeover of Australian National IndustriesM&A

  Background

  Smorgon Steel continued to expand its industrial and steel-related operations through acquisition.

  Action taken

  In December 1998, Smorgon Steel took over Australian National Industries.

  Aftermath

  The takeover increased the scale and scope of Smorgon Steel before its public flotation.

  Source

• 1997

  Purchase of Welded MeshM&A

  Background

  Smorgon Steel sought to expand its structural-materials activities within the Australian steel and construction-supply market.

  Action taken

  The company purchased Welded Mesh from Leighton Holdings.

  Aftermath

  Welded Mesh became part of Smorgon Steel's structural-materials portfolio.

  Source

1. 1Smorgon Steelen.wikipedia.org