Bankers for Arrium, which entered voluntary administration yesterday, have been urged by the South Australian government not to take legal action.
As steelmaker Arrium faces possible closure, some South Australian residents argue against a government bailout.
Jobs at Whyalla steelworks are under threat again, following the company’s bankers rejecting a bailout proposal and workers divided on a pay cut.
About 100 workers assembled in Adelaide on Saturday, demanding that the government build the next 12 submarines and patrol boats in the city or see 1,400 job losses.
WHEN the starter climbs the platform for the world’s richest horse race in Dubai on Saturday night, what happens next will be in the hands of a small company more than 10,000km away.
A budget boost for South Australia’s tech sector is expected, following the release of a report for the state government yesterday on increasing innovation.
South Australian premier Jay Weatherill has said he was confident General Motors would make an unnamed “financial contribution” to the state, following a meeting with GM executives in the US.
Former federal MP Greg Combet has quit his role as chair of the South Australian Automotive Transformation Taskforce after two-and-a-half years to work as a defence industry lobbyist.
The closure of Arrium’s loss-making Whyalla steelworks would have a greater impact on its community than the closure of Holden’s Elizabeth factory next year would, according to Professor John Spoehr.
A rescue package for Arrium’s Whyalla steelworks is being considered by the federal government, according to South Australian premier Jay Weatherill.
Boutique manufacturers Astir Frames, Bouwmeester Composites and Finch Composites are taking advantage of South Australia’s strong manufacturing history and access to university testing facilities to gain a foothold in the potentially lucrative cycling market.
ASC has laid off 110 workers at Adelaide, citing the need to meet “operational and performance demands”, as it enters a period of uncertainty leading up to the announcement of two major projects.
Punch Corporation, owned by Belgian businessman Guido Dumarey, might explore “alternative options” to keep car manufacturing alive in Australia post-2017.
It has been confirmed that Holden will cease local manufacture of Cruze vehicles in October, with around 400 jobs to also go as a result.
Arrium has announced that it will make 30 redundancies and will ask mining employees to take a temporary pay cut of 10 per cent.
Prime minister Malcolm Turnbull has stuck to the government’s pre-election pledge to lift defence spending to 2 per cent of GDP.
Arrium has been thrown a lifeline, though some believe the loss-making Whyalla steelworks is still in danger of being shut down.
Federal Opposition leader Bill Shorten has urged the government to use local steel in public projects to assist in the survival of Arrium’s Whyalla steelworks.
The Government has initiated the development of a second stage of its anti-dumping reforms in the wake of speculation that Arrium’s Whyalla’s steelworks may close.
Arrium is in negotiations with politicians and financiers about what can be done to ensure steelmaking continues at the Whyalla factory, the closure of which would affect more than 1,500 jobs.