Ajax Engineered Fasteners Going Under
Ajax Engineered Fasteners Going Under
Jason Sandefur
Almost 200 auto fastener workers at Australia-based Ajax Engineered Fasteners will lose their jobs when the factory is closed, most likely by the end of the week, the Herald-Sun reported. The workers have organized a sit-in at the plant, hoping to force a severance package from current ownership.
Ajax was supposed to operate through March under a rescue package crafted August by the company’s administrator, car firms and unions. But customers such as Holden, a GM division, and Ford withdrew funding after major shareholder Allen Capital put Ajax into receivership over a $4.5 million debt, according to the Herald-Sun.
Australia Worker’s Union national secretary Bill Shorten said the workers had rescued the car industry when it was desperate for Ajax’s parts in August.
“Now . . . the car companies can source foreign imports, put them on a ship and bring them to Australia,” Shorten charged. “The rescuers have been dumped overboard.”
A Ford spokeswoman said the company had been prepared to honor the deal until news broke that the firm was placed in receivership. �2006 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment