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Last 7 Days

by Tim Beissmann

Ford Australia has been forced to stand down approximately 1800 Broadmeadows and Geelong workers after key supplier CMI Industrial was placed into receivership this morning.

Keith Crawford and Matthew Caddy of McGrathNicol were appointed as receivers and managers of CMI Industrial today after it was placed into voluntary receivership by its director.

Workers at the Campbellfield-based company have been locked out of the plant all week by the landlord, who is owed more than $100,000 in unpaid rent.

Ford Australia, which sources suspension components for its Falcon and Territory from CMI, confirmed earlier this week it would be forced to turn away workers from Thursday afternoon when it was scheduled to run out of parts to build its cars.

McGrathNicol’s Crawford said he would be liaising closely with CMI employees, unions, customers and suppliers over the coming days with a view to ensuring “minimal disruption to operations”.

“Our objective is to work constructively with CMI Industrial’s key stakeholders over coming days to stabilise operations in order to facilitate a thorough assessment of each business units’ financial position and prospects and to prepare viable business units for sale,” Crawford said.

Speaking on behalf of the receivers, Nick Maher from communications partner Kreab Gavin Anderson confirmed the Campbellfield plant remained closed this afternoon.

While Maher said he could not comment further on when production at the plant may resume, he said there was not likely to be an announcement of any changes to its status before tomorrow.

Note: CarAdvice has contacted Ford Australia for comment. We will update the story when we hear more.