BlueScope commits $1M steel, buildings to bushfire victims

The company said it has a unique capability to assist in the rebuilding process through its steel building materials and the design and construction of pre-engineered buildings. Bluescope said it is already exploring ways it can directly assist fire-damaged communities which are in greatest need. “The company will work with aid agencies and government authorities to provide product and construction expertise to rapidly rebuild key community infrastructure in the worst-affected regions,” BlueScope chief executive Paul O’Malley said. BlueScope Steel is also encouraging its 20,000 employees worldwide to donate to the Red Cross Victoria Bushfire appeal. The bushfire assistance came ahead of news this morning that Bluescope had raised $A113 million from a share-purchase plan, which closed on February 6, 2009. Under the share-purchase-plan offer, BlueScope shareholders took the opportunity to invest up to $5000 in new shares at the same price paid by institutional investors, $A3.10 per share. Almost 30,000 shareholders from Australia and New Zealand participated in the offer, under which the company will issue approximately 36 million new shares. BlueScope said today it had raised a combined $A413 million through both the institutional placement held in December 2008 and this share-purchase-plan offer.

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