Why This $42 Million Super Steel Mill Was Built During a Construction Recession

“We are at the bottom and waiting for it to rise.”

The steel stockpiled in the warehouse had been pre-purchased and had not yet been sold to projects, but Brown was confident it would eventually be in demand.

“Asmus has been around for 100 years, we’ve been through a lot of cycles, we look at this as just another cycle and you just have to control yourself.”

Asmuss was founded in 1920 by Henry Asmuss. The company imports steel beams and pipes from factories around the world, including China, Taiwan, Thailand, South Korea and Australia.

The company’s products have formed the basis of some of the country’s most significant buildings, including the former Marsden Point oil refinery, Mercury’s Waikato River hydrodams, Meridian’s Huntly power station and Wellington Waterfront Stadium.

See a historic company’s investment in the future in today’s episode. Markets with Madison higher.

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Madison Reidy is the host and executive producer of the NZ Herald investment show. Markets with Madison. She joined the Herald in 2022 after working in investments and covering business and economics for television and radio broadcasters.