WBHO likely to impair Moz steel business

World News: . []

Engineering and construction group Wilson Bayly Holmes-Ovcon (WBHO) has warned that it expects to impair its Mozambique-based steel business Capital Star Steel (CSS), following insufficient production and aggressive competition in the international project pipe market.  CSS is a subsidiary of Capital Africa Steel (CAS), the company through which WBHO operates its construction materials businesses. CAS had provided CSS with R120-million of working capital funding in support of two recovery plans.

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