BlueScope Eyes US Growth With Expansion, Boosts Investor Payout

BlueScope Steel Ltd., which rejected a takeover bid from Steel Dynamics Inc. and SGH Ltd. last month, plans to push for growth in the US through an expansion of its North Star operations and premium products.

“We do see significant growth opportunities over time in the US, but a lot of it we think will be pursued through organic means” rather than acquisitions, Chief Executive Officer Tania Archibald said in a Bloomberg TV interview on Monday. She added the company had “plenty of capacity to fund ongoing growth” from its current balance sheet.