BlueScope details impact of Toyota's exit

BlueScope Steel has played down the impact on its operations of Toyota’s decision to stop making cars in Australia in 2017.

The company would not be drawn yesterday on how much money it would lose on Toyota’s exit from the national manufacturing market, saying its ‘‘overall impact would not be considered material’’.

‘‘With a three-year transition period before automotive production ceases in Australia and BlueScope’s continuing strategic focus on growth in building and construction markets, the overall impact to BlueScope is not considered material,’’ a spokesman for the company said on Friday.

The spokesman would not comment on how much steel BlueScope provided to make Toyota vehicles or whether the car maker’s decision would affect jobs.

Toyota announced on Monday that it would stop making cars in Australia in 2017, putting an end to the  sector and the 2500 jobs that go with it.

The announcement came just months after Holden decided to shut down its local car manufacturing in 2017.

BlueScope will reportedly lose at least $33 million in revenue a year from Holden’s domestic closure.

It supplies 14,000 tonnes of steel, worth about $18 million, directly to Holden to make vehicles in Australia each year.

BlueScope will announce its half-yearly financial results on February 24.

The company recorded a loss of $84 million in 2012-13, an improvement on the $1 billion loss in the previous financial year.


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