South Australian Premier Jay Weatherill plans to meet a potential investor this week. AAP
Business
Arrium: Foreign buyers analyse company's empire
THERE is "no magic solution" to save Arrium's troubled Whyalla steelworks, an economist has said, as international buyers show an interest in the company.
Flinders University professor John Spoehr said he would not be surprised if a Chinese company was investigating taking over Arrium.
International companies circle Arrium's #Whyalla steelworks https://t.co/oBjg4ocfce pic.twitter.com/tl9Ms8wipO
— ABC News Adelaide (@abcnewsAdelaide) April 11, 2016
The company has debts of more than $4 billion and was placed into voluntary administration last week, putting more than 8000 jobs at risk nationwide.
Professor Spoehr said it would be ironic but very welcome if Chinese investors came to the company's rescue.
"Unfortunately there is no magic solution," he said.
Read more at ABC
