AUSTRALIA: Autodom AGM for this week cancelled
Administrators acting for Australian parts supplier, Autodom, say the company's annual general meeting planned for 22 November has been cancelled.
It is unclear why the AGM has been postponed, but Macks Advisory, acting as Autodom administrators, say an application has been made to the Australian Securities & Investments Commission for an extension to the period in which the company is required to hold such a meeting.
A statement from Macks Advisory noted: "The voluntary administrators will provide an update to shareholders of the company in due course."
The company - sole stamping supplier to General Motors Holden (GMH) - resumed work following a US$6.8m emergency bailout by the US automaker's Australian subsidiary and Ford although the Australian Manufacturing Workers' Union (AMWU) also maintains it was influential in ensuring the operation's 400 staff returned to their posts.
GMH recently told just-auto the situation had seemed "quite difficult," as it could have seen product difficulties within seven to nine days of the original shut-down of Autodom, but that its financial aid had led to a resumption of work on 6 November.
A statement from Macks Advisory noted: "As announced on 5 November, 2012, Peter Macks, Rob Naudi and Ian Burford of Macks Advisory have been appointed as voluntary administrators of the company and each of its subsidiaries.
"Further, as announced on 7 November 2012, Keith Crawford and Rob Kirman of McGrathNicol have been appointed as receivers over the company and each of its subsidiaries by secured creditors."
Autodom subsidiary, DAIR Industries, produces rear bumper assemblies, foot brakes, clutch mechanisms, hood hinges and parking brakes for Ford, Toyota, GMH and truck maker Kenworth.
The AMWU was not immediately available for comment.