News

Pacific Steel workers strike as parent company banks $802 million profit

September 17, 2026

E tū members at Pacific Steel in Ōtāhuhu will strike on Friday 18 September from 12pm to 5pm after the company refused to put forward a pay offer that keeps up with the cost of living.

Pacific Steel is owned by New Zealand Steel, which is in turn owned by Australian steel giant BlueScope. Last month BlueScope reported a net profit after tax of A$802 million for the 2026 financial year. It also plans to hand around A$1.3 billion to shareholders during 2027.

Workers have been in bargaining with the company since July. Pacific Steel’s current offer falls below inflation, which means workers would go backwards in real terms while their household bills keep climbing.

E tū member Kishore Bechan, who works at Pacific Steel, says the company is wearing down goodwill with its workforce.

“Pacific Steel is damaging the bond between us workers and the company,” Kishore says.

“These guys have deep pockets but short hands.”

E tū Director Mat Danaher says members haven’t taken this step lightly.

“Taking strike action is not done lightly. Our members are here because the company has left them no other option,” Mat says.

“Steelwork is hot, heavy, and sometimes dangerous. These workers keep the plant running and they make this company money. All they want is a pay rise that keeps up with the bills.

“An offer below inflation is a pay cut, whatever Pacific Steel wants to call it.”

Mat says the company’s owner can’t plead poverty.

“BlueScope has just posted a profit of more than $800 million and it’s lining up $1.3 billion for its shareholders next year. In its results announcement, the CEO thanked workers for their hard work. Thanks don’t pay the power bill.

“BlueScope even calls its company values ‘Our Bond’. Kishore is right. That bond is being damaged, and the company is the one doing it.

“We’re ready to keep bargaining. Pacific Steel needs to come back with an offer that shows it values the people who make its steel. There’s plenty of money in this business. It’s time some of it reached the workers who earn it.”

PICKET DETAILS

12pm, 18 September
193 James Fletcher Drive, Ōtāhuhu, Auckland

ENDS