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.
I wouldn't have thought that, with the current state of play in the European auto industry, there'd be too much niggle in the union ranks. But we've reported on a bit this week....
Although the Chinese car market is expected to see growth of around 10% this year, prospects for premium brands have deteriorated as a result of the Chinese government's anti-corruption campaign, acco...
Ford has strongly rebuffed questioning from the European Commission (EC) as to whether Spanish plans to grant state aid for its Valencia project are against regulations....
A new Magneti Marelli Automotive Lighting plant has been opened in Foshan, Guangdong province, in southern China....
Ford will free up much needed production capacity in North America by moving Fiesta production from Mexico to Thailand in 2016, according to a US newspaper....
- Clio R.S. 220 Trophy & future Renaults
- THE WEEK THAT WAS - Scion and Ford workers' chop
- Q&A - Visteon CEO Sachin Lawande
- THE WEEK - New car, mergers, results, Iran
- January 2016, management briefing (Part 2)
- Ford Europe looks to cut staff
- Geneva premieres list - Bentley Mulsanne facelift
- Spreading virus prompts Tata to re-name new model
- 2016 Delhi Auto Expo - world premieres list
- Toyota to axe Scion youth brand