Casella Wines, the owners of the popular Yellow Tail brand, has attributed its first loss in two decades to factors including the high Australian dollar and industrial relations.
Directors at Adelaide-based soda ash maker Penrice Soda are urging shareholders to support them, ahead of the company’s extraordinary general meeting (EGM) on January 25.
The operations of Rio Tinto’s troubled Gove aluminium refinery in Arnhem Land, Northern Territory, are at risk of being suspended.
The on-line shopping website Only Australian Groceries, or OnlyOz, has blamed a lack of support for Australian brands for the collapse of Gourmet Food Holdings, owner of Rosella.
A recent report released by IBISWorld has revealed that the women’s and girls’ wear manufacturing industry in Australia has performed poorly over the past five years.
High Aussie dollar, rising overseas competition and global economic crisis are held responsible for 125,000 local manufacturers losing their jobs over the past four years.
A report released recently has stated that the high Aussie dollar is to be blamed for the decline in Victoria’s economic growth, and the manufacturing and construction industry in the state will continue to be faced with challenges until next year.
Australian Industry Group CEO Innes Willox has expressed optimism about the manufacturing industry, but says it should accept a high Australian dollar as the new normal.
Executives at the Australian Steel Institute’s annual conference have blamed the Reserve Bank for the high Australian dollar, The Australian reports.
A report from research firm Variant Perception suggests the dollar will head south quickly after the mining boom is over.
The world’s biggest packaging company, Hawthorn-based Amcor, announced a 15.7% jump in net profit to $412.6 million for the year ending June 30.
BlueScope Steel has announced a $1.04 billion loss for the year to June. This was a slight improvement on its $1.05 deficit from the previous financial year, coming in a period marked by the company’s restructure and a persistently high Australian dollar.
The rate of manufacturing deflation eased in June, with four sectors experiencing growth, according to official statistics.
In worrying news for Australian manufacturers, industry activity dropped again during May, reaching its lowest level in nine months, according to an Australian Industry Group (Ai Group) report.
Is the surfboard industry yet another victim of the high Australian dollar?
Almost 73% of Australian workers in the mining, industrial and construction sectors have expressed their concern about the widening gap between the two-speed economy.
Manufacturing industry groups are calling on the government to inject more funds in to the sector, following a tough start to the year with various redundancies and factory closures announced.
Manufacturing was back in the red last month, with production falling sharply to 43.9 PMI points, according to the latest Australian Industry Group – PwC Australian Performance of Manufacturing Index (Australian PMI).
The way Toyota carried out 350 redundancies earlier this week has been called ‘appalling’, with the car-maker hiring security guards to escort the sacked workers offsite in case they resisted their fate.