July 4, 1994 |
California Gets a New Plant: Broken Hill Proprietary Co. of Australia said it will build a $60-million plant in Rancho Cucamonga to coat sheet steel with Zincalume, a zinc and aluminum product that resists rust. The plant will have a capacity of 550,000 tons a year and will be the only such installation in the western United States.
April 15, 1986 |
Broken Hill Proprietary Co. said Monday that it has acquired rights to 20% of Elders IXL Ltd.'s stock in a move analysts said was designed to protect both companies from takeover specialist Robert Holmes a Court. The investment by Broken Hill, valued at 1.22 billion Australian dollars, or $876 million at current exchange rates, followed Elders' purchase last week of nearly 20% of Broken Hill's stock for 1.7 billion Australian dollars, or $1.22 billion.
January 9, 1995 |
6.85 Million Tons of Oil Exported: The Saigon Liberation Newspaper reported that about 99% of the 1994 total, or 6.79 million tons, came from the White Tiger oil field off the South Vietnam coast. The Big Bear oil field, now being drilled by Vietsovpetro and Australian mining giant Broken Hill Proprietary Co., produced its first 60,000 tons. A third field, Blue Dragon, being drilled by Mobil Oil Corp., is now starting production. Crude oil exports are expected to reach 8 million tons this year.
December 2, 1995 |
Mega-Merger of Copper Giants to Pressure Rivals: The $2.4-billion acquisition of Magma Copper Co. by Australian resources giant Broken Hill Proprietary Co. creates a strong No. 2 world producer of the key industrial metal and puts pressure on rivals to cut costs, analysts said. The transpacific marriage was greeted warmly by analysts, but some wondered if the long-term copper price used to evaluate the deal was too optimistic and if BHP had picked the right moment to make its move.