Agribusiness, food & beverage Home
Bite Size Dealtracker
Food, Beverage & Agribusiness industry insights
Key insights for the Australian Food, Beverage & Agribusiness industry.
Consumer products & retail Home
GNC Group Consulting
The Technology Trap: Online innovation in retail
I recently attended the NRF Retail Big Show in New York, an overwhelming smorgasbord of retail technology and new store concepts.
Royal Commission wrap up
Top 10 things for Financial Services providers
Eleven months on from the first round of hearings for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Hayne’s final report has been released.
Health & aged care Home
Aged Care Royal Commission
Setting the tone for the Aged Care Royal Commission
Last week’s hearings for the Royal Commission into Aged Care Quality and Safety, introduced the leaders of some of Australia’s peak bodies, unions, consumer organisations and the Secretary to the Department, Glenys Beauchamp. In all 26 witnesses were called.
Life sciences Home
Biotechnology Industry Position survey
Australia's biotechnology industry drives economic growth
The 2019 Biotechnology Industry Position survey conducted by Ausbiotech and supported by Grant Thornton has revealed that new technologies across regenerative medicine and medicinal cannabis are disrupting the industry, and Australia's global strength in clinical trials continues to drive contributions to the economic and social fabric of the country.
Manufacturing Home
mid-sized business report
Manufacturing is critical to our economy – how can we support the sector?
Although the knock-on effects of the Australian automotive industry exiting our country are yet to be fully understood, the industry is evolving, and manufacturing continues to be a major employer and critical to our overall economy.
Not for Profit Home
NATIONAL OUTCOMES MEASUREMENT PROGRAM
A practical framework
Royal Commissions and federal budgets are critical things for Nonprofit human service providers to be thinking about at this point in time.
Real estate & construction Home
mid-sized business report
Supporting affordable housing requires planning, certainty – and tax reform
There is a lot of noise around the property sector at the moment – and it’s not all positive. Prices are down – but this shouldn’t be a surprise when some markets (namely Sydney & Melbourne) saw unprecedented hikes in recent years.
Technology & media Home
Scaling-up for Growth
From start-up to scale-up
Navigating the complexities of growth and maintaining previous success is a challenge for all mid-size businesses.
- Press
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2019
2019
- Priava announces management buy-out
- Aged care providers share their perspectives on the future of ageing and age services in Australia
- Ian Renwood to lead Technology Advisory Consulting team in Sydney
- ‘Preparation now’ was the message for Melbourne’s Disability Services sector ahead of the Royal Commission
- Brisbane Disability Service providers gain insight into retaining good culture through the Royal Commission
- Sydney Disability Service providers prepare for Royal Commission at Grant Thornton roundtable
- Perth Disability sector armed with strategies to tackle challenges of Royal Commission
- Grant Thornton welcomes nine new Partners and Principals
- Japanese investment in Australia’s energy and mining industries remains strong
- Grant Thornton responds to ASIC inspection findings
- Bronze Employer Status in the Australian Workplace Equality Index
- A boost to mid-size business is a boost for the Australian economy
- Thomson Reuters and Grant Thornton face complex Australian tax environment together
- Grant Thornton welcomes Steve Paterson to lead on Australian State Taxes
- Australia welcomes its first digital bank, Volt Bank
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2018
2018
- New Board appointments improve gender diversity for better business outcomes
- Grant Thornton welcomes three new partners
- Rising fear over disproportionate cost of banking regulation
- Katie O’Keeffe to spearhead Human Capital offering in Melbourne
- Grant Thornton appoints new National Head of Business Risk Services
- Tianne Nagy-Jones recognised with ARITA President’s Award
- The UK’s Tech Rocketship Awards take off in Australia and New Zealand
- Robert Powell recognised with Family Business Australia’s inaugural Accredited Advisor Award
- “Western Australia is superbly situated to thrive and prosper”
- Proportionate regulation can help protect banking customers
- Grant Thornton appoints new Human Capital partner
- Darren Scammell joins Grant Thornton
- Life Sciences sector booming and more buoyant than ever
- Grant Thornton welcomes new leaders
- Victoria backs TPP and benefits of Free Trade
- Aged care boardroom briefing with Federal Minister highlights opportunities and challenges for the sector
- volt bank receives Australia’s first restricted ADI licence
- Grant Thornton advises Jupiter Mines on one of the largest IPOs in the metal and mining industry
- Grant Thornton acts for Turi Foods on merger with global food supplier
- Grant Thornton appoints new Partner as part of its ongoing investment in Financial Services
- Grant Thornton Australia continues to bolster its consulting capabilities with the appointment of new technology Partner
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2017
2017
- Grant Thornton announces new offering to help retailers navigate complex financial services environment
- Australia lags global average for 5th consecutive year on gender diversity
- Grant Thornton appoints lateral partner hire, Daniel Mastroianni to lead its new debt advisory service offering
- New Partners continue to strengthen Grant Thornton’s leadership team
- Diversity of thought - the missing ingredient for many family businesses
- Philip Campbell-Wilson joins the Grant Thornton restructuring team
- Continuing our commitment to retail, through our merger with GNC Group Consulting
- Mr Ian McCall Appointed as Partner of Growth Advisory Team
- Proudly supporting Windlab’s industry-leading renewable energy project
- Health and aged care the future for lending growth
- Grant Thornton appoints Anthony Beven to Partner, furthering its commitment to serving Australia’s Indigenous business community
- The ATO is coming no matter your size – are you ready?
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2016
2016
- Canary indicates life in the tunnel for junior miners
- Cyber risk is indiscriminate: Census cyber-attack, a lesson for mid-size business
- Grant Thornton Australia congratulates Allegro Funds
- Lagging digital competitiveness creates bumpy economic transition
- Strong valuation multiples & private equity interest create better conditions ahead
- Investor demand for gold climbs further but will Brexit upset the early signs of uptick for junior miners?
- Brexit export opportunities & setbacks - agribusiness comes out on top as Australia becomes gate way to Asia
- Brexit signals opportunity for Australian Fintech’s and trouble for Britain’s Fintech community
- 11 new partners boost Grant Thornton’s leadership
- Brad Savage joins Grant Thornton, marking 8th lateral partner hire this financial year
- Changes uncork competitiveness in the wine industry
- Level playing field for local retailers as Government announced low value import threshold to be abolished
- "Public Sector Productivity” – no longer an oxymoron
- Mid-size businesses recognised and supported in 2016-17 Federal Budget
- Innovators more confident to undertake research as R&D incentives in question, finally remain untouched
- Junior miners and explorers not forgotten in the 2016 federal budget
- Manufacturers match made in heaven with invigorated workforce
- Agribusiness receives critical infrastructure investment which lays foundation for continued growth in Asia
- Flex-appeal goes a long way towards workplace happiness: Grant Thornton breaks the mould
- $300bn in cyber breaches: Mid-size business welcomes Cyber Security Strategy
- Statement re: Arrium Voluntary Administration
- Arrium Limited appoints Grant Thornton as Voluntary Administrators
- Highest economic contribution; yet mid-size business goes cap in hand on budget incentives
- What women really want in the boardroom
- Biggest contributors of technology innovation go cap in hand
- Netflix tax paves way for more to come
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2015
2015
- Digesting the prospects of GST on fresh food
- Strategic Development Fund & Minister for Mid-Size Business set to fill Government’s revenue gap
- Proposed changes to insolvency laws allow reorganising for success and welcomed news for Australian mid-sized business
- ChAFTA provides platform for mid-size business to deliver jobs and revenue
- Outlook brightest for gold juniors
- TPP creates growth beyond limitations of local market margin squeeze for professional services
- Move on from equal representation and embrace independence
- Australia slips from top spot; ranking third on global dynamism index
- Real estate investment driven by gut feeling rather than data
- Speak now or forever hold your peace on innovation
- Burgeoning Queensland market creates 7 senior appointments
- Revision of board governance vital for growth
- Grant Thornton further invests in leadership and strengthens its capabilities
- Record low investment rates ≠ record high investment
- Grant Thornton named one of the 50 'World’s Most Attractive Global Employers'
- Automation is the way of the future
- Incentives to invest in innovation hang in the balance
- Mid-size food producers looking for fair share of the federal budget exports pie
- Grant Thornton bolsters its digital advisory offering through acquisition of the Consult Point Group
- Crack down on entertainment salary packaging following changes to FBT
- Federal Budget overlooks Australia's Life Sciences sector
- R&D in the firing line again
- Changes to the GST base marks the beginning of much more to come
- A friendly outcome for Financial Services
- Budget mixes messages for the tech sector
- Encouraging support for innovation
- Horse has bolted on innovation, now is the time for industry support
- Action needed to ensure ongoing retail growth
- Whistling the profitability tune in manufacturing
- Don’t tamper with tax on super
- New CEO appointed for Grant Thornton effective 1 July 2015
- Little known ways to avoid reliance on supermarkets & combat margin squeeze
- Capital conundrum in Australian Agriculture
- Property developers hit by disincentives to foreign investors
- Madeleine Mattera boosts Grant Thornton’s Financial Services offering
- Mid-size businesses welcome Senate support of innovation incentives
- Australia fails to measure up to Eastern European women in business
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2014
2014
- Parliament set to provide explorers much needed investment incentive today
- FTA fast tracks Australia’s mid-size sector
- Property developers substantiate claims to abolish stamp duty
- Are our food & agri producers best positioned to take advantage of the FTA with China?
- Manufacturers to increase relevance in China’s supply chain
- Everyone’s a winner as coal tariffs set to be removed
- Mid-size businesses pay the price on profit shifting
- Growth sectors driving confidence in Australia's deals market
- Australia outranks global peers in sustainable practices
- Aussie business gains helping hand to compete & grow
- To succeed in China we must understand Chinese business better
- Grant Thornton expands national footprint to North Queensland
- What’s next for Australian retailers?
- Are we poised to maximize growth opportunities from the free trade agreements?
- Educational performance stagnates as funding dominates debate
- Clarity in sight for the automotive industry
- Property sector’s significant revenue burden could decrease
- Talk of a budget emergency won’t boost consumer confidence
- R&D Rate Reduction will hurt vital product development in F&B
- Manufacturers suffer structural imbalances inhibiting long-term growth
- – Industries of the future given the slip as Federal budget overlooks the ICT sector
- Affordable Housing backbenched
- GST reform left out in the cold on budget night
- The Sweet and Sour for the Life Sciences Industry
- Government announces $11.6bn infrastructure investment to build our nation
- Changes to the R&D tax offset do not encourage growth
- Save now, benefit in the future
- Fine line in downsizing achieving public sector productivity gains
- Food & beverage sector relishes ripe acquisition opportunities
- Pioneer charities reap rewards of social media governance
- Private equity firms shopping for Australian retail growth
- Australian innovators seek even playing field in attempt to reverse the brain drain
- Professional practices face new risk assessment on profits
- First glimmers of hope emerge from dire conditions for junior miners
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2013
2013
- Business optimistic for further growth
- Lenders warn conditions will remain tight over the next 12 months
- Fraud and corruption pose threat to global growth in the construction industry
- Grant Thornton Australia wins Thomson Reuters “Advisory Firm of the Year”
- Private equity firms adapt to a “new road map” for fundraising
- Social enterprises ring warning bells for Not for Profit sector
- Collaboration needed to keep Not for Profit sector healthy
- Power of mega-retailers a global challenge for food and beverage sector
- Australian Construction fraud costs estimate at $5 billion per year
- Business advisory leader Grant Thornton teams up with MYOB for practice solutions
- Australia rated best for growing business
- Grant Thornton named one of the Top 50 Global Business Employers
- Grant Thornton Australia announces the appointment of Jason Sorby, Partner – Operational Advisory Lead for Queensland
- ATO on the warpath – 2013-14 Compliance program released
- A major blow for business as FBT administration on cars set to skyrocket
- Business resolutions for a new financial year – lessons from eCommerce
- Ford announcement not the Death-Knell for the Local Industry
- Infrastructure spend to keep pace with population growth in major cities
- Measures to encourage exploration critical, yet absent
- MBS indexation freeze set to transfer costs to patients
- Not for Profit: Status quo for now, but for how long?
- Federal Budget does little to encourage investment in Australia’s digital economy
- Budget shuns retail sector
- Education funding alone will not improve school performance
- Funding costs to rise for overseas investments
- Thin capitalization changes to stifle business investment
- Fair Work Commission to address bullying complaints
- CGT 10 % Non-Final withholding tax – Another disincentive for foreign investors
- Research and development: The give and the take
- Continued uncertainty for Australian businesses going offshore
- Has the Budget killed Australia’s Competitiveness in the Asian Century
- Government fails to commit to real reform for future Australians
- Government fails to address SME’s basic wish list
- Public sector hit hard by Budget shortfall
- How might the Federal Budget impact the Not–for–Profit sector?
- ‘Out of favour’ sectors should be reconsidered
- Work/life balance – everyone should strive for it!
- What women want
- Tax reform story not over for biotech industry
- Superannuation reforms – More about winning an election than long term reform
- Routes to the top – the best and worst places for women to get top job
- R&D Incentive update: A plan for Australian jobs
- Junior miners not on Government agenda
- International Women’s Day 2013
- Innovative companies will move offshore if tax rate not reviewed
- Grant Thornton named International Accounting Bulletin’s Network of the Year
Paul Billingham, Said Jahani, Michael McCann and Matt Byrnes, all of Grant Thornton, have today been appointed as Voluntary Administrators of Arrium Limited and the majority of its Australian subsidiaries* (“Arrium” or “the Group”), following resolutions passed by the Boards of the affected companies.
The Australian and global Moly-Cop business is not affected by the appointment.
The Administrators will assume executive control immediately and, in conjunction with key stakeholders including employees, lenders, government and suppliers, undertake an urgent but comprehensive review of the core Australian steel and mining businesses.
“Voluntary Administration provides Arrium and its stakeholders time to develop options that will help preserve long term value and optimise the position of its creditors. Our focus will be to stabilise current trading, maintain business as usual across the Group’s affected operations, identify ways to restore the performance of key business units and develop an optimal solution that maximises the return to creditors.
“While we undertake our review of the business operations, we are conscious of the needs of all stakeholders and seek the support of customers, suppliers, lenders and employees so that Arrium can continue to operate on a business as usual basis,” said Paul Billingham, Managing Partner of Grant Thornton’s Australian Financial Advisory business.
The overseas operations of Arrium, principally the Moly-Cop business, should be largely unaffected by this appointment. However, they will also be supported by local Grant Thornton partners in each country as the Administrators develop an understanding of their needs to ensure that they too can operate on a business as usual basis while an appropriate strategy is developed.
The Administrators aim to run an efficient and transparent process that will also see a thorough and impartial investigation of the events and actions that have brought the Group to this position.
The Administrators will hold a first meeting of creditors within eight business days in accordance with the requirements of the Corporations Law. Creditors will receive further information by mail.
- ends-
For more information, please contact:
Ian Pope
General Manager
Edelman Public Relations
M 0416 826 037
E ian.pope@edelman.com
Ivana Tranchini
Associate Director
Edelman Public Relations
M 0411 782 737
E ivana.tranchini@edelman.com
*Subsidiaries included under appointment of Voluntary Administrator found in Note to Editors
Note to Editors – List of Arrium Australia Limited subsidiaries
Arrium Finance Pty Limited
Arrium Iron Ore Holdings Pty Limited
Arrium Limited
LiteSteel Technologies Pty Ltd
OneSteel Coil Coaters Pty Ltd
OneSteel Manufacturing Pty Limited
OneSteel NSW Pty Limited
OneSteel Recycling Pty Limited
OneSteel Reinforcing Pty Limited
OneSteel Stainless Pty Limited
OneSteel Trading Pty Limited
OneSteel US Investments 1 Pty Ltd
OneSteel Wire Pty Limited
Southern Iron Pty Ltd
SSX Pty Limited
The Australian Steel Company (Operations) Pty Ltd
Whyalla Ports Pty Ltd
XMS Holdings Pty Limited
Austube Mills Holdings Pty Limited
Austube Mills Pty Limited
Central Iron Pty Ltd
Coober Pedy Resources Pty Ltd
Metpol Pty Ltd
OneSteel US Investments 2 Pty Ltd
P&T Tube Mills Pty Ltd
Tubemakers of Australia Pty Limited
OneSteel Americas Holdings Pty Limited
OneSteel MBS Pty Limited
OneSteel Recycling Holdings Pty Ltd
OneSteel Recycling Overseas Pty Limited
OneSteel Stainless Australia Pty Limited
SSX Acquisitions Pty Limited
SSX International Pty Limited
SSX Services Pty Limited
Comsteel Pty. Limited
SSG No.2 Pty Ltd
SSG No.3 Pty Ltd
SSX Holdings Pty Limited
The ANI Corporation Pty Limited
A.C.N. 006 769 035 Pty Ltd
Akkord Pty Limited
ANI Construction (W.A.) Pty. Limited
Atlas Group Employees Superannuation Fund Pty. Ltd.
Atlas Group Staff Superannuation Fund Pty. Ltd.
Atlas Group Superannuation Plan Pty Ltd
Australian National Industries Pty Ltd
Australian Wire Industries Pty Ltd
AWI Holdings Pty Limited
B.G.J. Holdings Proprietary Limited
Bradken Consolidated Pty Limited
Cockatoo Dockyard Pty Limited
Eagle & Globe Pty Limited
Email Accumulation Superannuation Pty Ltd
Email Executive Superannuation Pty Ltd
Email Holdings Pty Limited
Email Management Superannuation Pty Ltd
Email Metals Pty Ltd
Email Pty Ltd
Email Superannuation Pty Limited
Emwest Holdings Pty. Ltd.
Emwest Properties Pty Limited
GSF Management Pty Limited
J. Murray-More (Holdings) Pty Ltd
John Mcgrath Pty Ltd
Kelvinator Australia Pty Ltd
Litesteel Products Pty Ltd
Metals Properties Pty. Ltd.
Metalstores Pty Limited
N.K.S. (Holdings) Proprietary Limited
O Dee Gee Co. Pty. Ltd.
OneSteel Building Supplies Pty Limited
OneSteel Queensland Pty Limited
OneSteel Technologies Pty Limited
Overseas Corporation (Australia) Pty Ltd
Palmer Tube Mills Pty Ltd
Pipeline Supplies of Australia Pty Limited
ReoSteel Pty. Ltd.
Roentgen Ray Pty Ltd
SSG Investments Pty Ltd
SSGL Share Plan Nominees Pty Ltd
SSX Employees Superannuation Fund Pty Ltd
SSX Retirement Fund Pty Ltd
SSX Staff Superannuation Fund Pty Ltd
Tasco Superannuation Management Pty Ltd
Tube Estates Pty. Ltd.
Tube Street Pty Ltd
Tube Technology Pty. Ltd
Tubemakers Somerton Pty Limited
Western Consolidated Industries Pty Ltd
X.C.E. Pty Ltd
XEM (Aust) Pty Limited
XLA Pty Ltd
XLL Pty Ltd
Zinctek Pty. Ltd.