Wages and investment in the manufacturing sector are continuing to fall, with the industry seeing no benefit from a spate of interest rate cuts, new figures show.
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Manufacturing continues to lead economic output in Geelong
Geelong’s manufacturing industry continues to contribute more than any other industry to the region’s economy, new figures show.
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CSR pushed by difficult environment to shrink glass business
CSR announced yesterday that it would cut 150 jobs at Viridian, its poorly-performing glass division, due to a challenging environment for building products manufacturers.
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CSR cuts glass-making operations
CSR’s loss-making Viridian subsidiary will lose 150 jobs and have two of its factories shut, the company announced this morning.
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AusVeg blames imports for Rosella’s closure
Vegetable producer lobby group AusVeg has said that the end of Rosella’s tomato sauce production is part of a wider trend in food manufacturing, which is being hurt by cheap imports.
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No paper for Geon Group as first creditors meeting held today
Attempts to keep printing company Geon Group operating while in receivership could fail, as the first creditors meeting got underway at noon.
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Opposition wouldn’t cut wages, deflate dollar
Joe Hockey will today address a half-day Committee for Economic Development Australia conference at Brisbane, ruling out both major industrial relations changes and intervention to lower the Australian dollar.
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Caltex announces full-year profit
Caltex has returned to profitability, with continued growth in earnings predicted and CEO Julian Segal saying results support the decision to close its Kurnell refinery in 2014.
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Importers are cheating local manufacturers: BlueScope
BlueScope Steel has accused local importers of cheating the manufacturing industry by claiming concessions on cheap imported steel.
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BluesScope Steel shrinks loss, reports underlying profit
BlueScope Steel has reported a $12 million loss for the first six months of the financial year, a significant improvement on the $136 million loss for the corresponding period a year before.
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Pacific Aluminium refinery gets lifeline, pipeline
NT chief minister Terry Mills announced yesterday that the troubled Gove refinery, owned by Pacific Aluminium, will stay open, saving 1,500 local jobs.
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Boral announces loss for half-year, raises possibility of further staff cuts
Boral CEO Mike Kane has announced a net loss for the first half of the financial year and said that a slow housing market continued to be a concern.
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Hills Holdings looks at acquisitions, moving away from steel
Hills Holdings CEO Ted Petty has used the company’s first-half results to outline a three-year vision that involves steel products becoming a lesser priority.
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Second consortium attempting to takeover Billabong
A consortium led by VF Corporation has emerged to challenge the Paul Naude-led coalition attempting to buy surfwear maker Billabong.
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High dollar leads to Casella’s first loss
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.
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Penrice Soda directors urge investors to be patient ahead of EGM
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.
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LTQ Engineering to cease operations in September
Aircraft engine overhaul provider LTQ Engineering will cease operations and close its Tullamarine facility in September, resulting in the loss of 164 jobs.
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Australian mining boom close to peaking: report
Resources are a vital part of the Australian economy, accounting for approximately 60% of its exports. But the gravy train is coming to a halt, at least according to a recently published report by Deloitte Access Economics.
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Almost 60% of SMEs unhappy with support from Federal Government
Almost six in ten small and medium-sized businesses are dissatisfied with the support they receive from the federal government, according to a recent report by business software provider MYOB.
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Government won’t offer further assistance to auto industry, despite Ford cuts
Last week, Ford Australia announced that it would be cutting 400 jobs, which will be split between plants in Melbourne's north and Geelong. Paul Bastian, the national secretary of the Australian Manufacturing Workers' Union (AMWU) called it a “kick in the guts” for employees and their families, while workers themselves were in a state of shock.
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