none

Melbourne steel manufacturer collapses

31-08-2010
by 
in 

 

A Melbourne-based steel company turning over between $40-50 million has been placed in administration – another victim of the strong Australian dollar.

Rebar Prefab, a Melbourne-based manufacturer of steel-based concrete reinforcing materials, is now up for sale.

The collapse follows a number of insolvencies in the steel manufacturing business in the past year.

Smart Company reports administrators Richard Albarran, David Ross and Shannon Thomson of Hall Chadwick placed the company in receivership on April 9.

Rebar Prefab turns over between $40 and $50 million every year.

Administrators say the company has a "blue chip customer base" and specialist plant & equipment.

The manufacturing industry has been under severe pressure, due largely to the continued strength of the Australian dollar against international currencies.

The steel market in particular, is feeling the full brunt.

Earlier this year two separate companies, Spillane Fabrications and Capital Steel Buildings were both placed in administration.

And in October last year, engineering group RPG Australia also entered administration.

Economists are not predicting any relief for manufacturers in the short term.

Many experts warn the dollar will stay above parity for a while, with many governments in both Europe and the United States favouring low interest rates.

Related news & editorials

  1. 20.06.2019
    20.06.2019
    by      In
    The Australian Made Campaign’s famous green-and-gold kangaroo Australian Made, Australian Grown logo is now a registered trademark in Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China.
    According to Austrade, Australia exported $11 billion of... Read More
  2. 20.06.2019
    20.06.2019
    by      In
    Graham Thomson Motors of Shepparton, part of the Mildura Truck Centre group, has joined the dealer network of Melbourne-based parts supplier and trailer manufacturer MaxiTrans, distributing the group’s full range of products in the city and surrounding areas of north-eastern Victoria.
    Graham... Read More
  3. 20.06.2019
    20.06.2019
    by      In
    The adage that success breeds success could well have been written for Sydney-based fabricator and manufacturer F&D Normoyle Engineering.
    The company has become recognised as one of Australia’s leading lights in producing structural steel, timber and glass and all types of architectural... Read More
  4. 20.06.2019
    20.06.2019
    by      In
    From its Melbourne headquarters, Duratray - a leading supplier of trays for mining trucks – is leading the way with innovative technology that has driven its global expansion.
    Duratray was established in the 1970s. Since its purchase by current owners Conymet in 2001, it has grown its international... Read More