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A Brisbane stainless steel maker and a South Australian soda ash manufacturer have both decided to close their doors following financial difficulty and competition from cheap imports.
Spillane Fabrications, a stainless steel manufacturing company based in Brisbane, has gone into administration after failing to repay the Australian Tax Office and other creditors.
Smart Company reports Spillane owed the ATO $100,000 and trade creditors $30,000 and SV Partners were appointed as administrators this week.
Administrators said cash flow problems and pressure from the ATO finally pushed the company over the edge, and they were currently attempting to set up a deed of company arrangement for the business.
South Australian company Penrice Soda Holdings has also shut down Australia's only soda ash operation following “extraordinary pressure” from imported soda.
“The unprecedented strength of the Australian dollar, lower international shipping costs, increasing energy and labour costs, increasing taxes (notably the carbon tax) and increasing regulatory compliance costs have added to the cost of manufacturing relative to imports,” the company said.
“Penrice does not see any significant change to these factors occurring in the foreseeable future.”
Penrice said the decision to shut down operations would result in the loss of around 60 jobs.
Image: News Limited