Building boom challenges put Steel & Tube under pressureROBERT KITCHEN Dave Taylor: A "perfect storm" brewing as the construction sector comes under pressure. Pressures in the construction industry are starting to bite on the earnings of Wellington-based steel company Steel & Tube. READ MORE:* Charges over steel mesh laid against Steel & Tube by Commerce Commission* Commerce Commission to take three firms to court over steel mesh* Steel firm defends steel mesh sold with wrong certification* Former Steel & Tube boss Nick Calavrias killed in crash in TaupoTaylor said there were "a myriad" of challenges facing the booming construction industry, which meant some companies were not making the profits people might have expected. Over the last four years, Steel & Tube has embarked on an acquisition drive, buying four businesses worth $80m. Shares in Steel & Tube remained flat at $2.30 following the results.

Source: Stuff August 17, 2017 22:41 UTC