Even in bailouts Australian manufacturing takes a back seat to dirt. On Arrium, from The Australian:
Administrators of embattled steelmaker and miner Arrium (ARI) are trying to secure a 17 per cent pay cut from Whyalla workers and lift iron ore exports by up to 3 million tonnes a year in order to bolster a formal sales process for the whole Australian business due to start in two weeks.
Administrators KordaMentha yesterday started enterprise agreements talks with the Australian Workers’ Union in an effort to shave $25m to $30m from the annual wages bill at Whyalla’s steelworks and mines.