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Molycop threatens steel jobs in Australia as it demands increased tariffs Inside a SAG milling factory (Molycop.com) The threat was issued last month by Molycop’s Australasia president Michael Parker. The existing tariffs on imported steel products, due to expire in September, range from 11.7 percent to 57 percent. Parkers’s statement is bound up with preparations launched last December by Molycop’s owner, the US-based private equity firm American Industrial Partners (AIP), to sell the enterprise which is valued at around $2 billion. Locking in favourable tariffs will be important to AIP’s bid to attract potential investors. Interested parties so far include multi-billion-dollar investment firms such as Blackstone and Brookfield, as well as other global companies in the mining industry. Predatory private equity giants are short-term investors that ruthlessly restructure companies, ripping up jobs and conditions, to cut costs then resell at a profit.

United statesNew south walesPort kemblaSouth australiaMichael parkerAustralian workers unionAustralian manufacturing workers unionPlumbing union of australiaFair work commissionAnti dumping commissionAmerican industrial partnersPlumbing unionFair workஒன்றுபட்டது மாநிலங்களில்புதியது தெற்கு வேல்ஸ்போர்த் கேம்பிள