MARKETS

Downturn claims mining manufacturer

SOUTH Australian mining equipment company C&S Wear Parts was put into liquidation last week after...

Kristie Batten
Downturn claims mining manufacturer

Meertens Chartered Accountants was appointed to the family owned company last week.

“The company has no bank debt, but the slowdown in the mining industry had seen its order book collapse to the point directors believed the company had no choice but to close,” Meertens partner George Divitkos said.

“We will be advertising the business for sale in the next few days and will be looking to sell the assets in situ. Failing that, the assets will be sold by public auction.”

C&S manufactured and repaired buckets for diggers and graders used in the mining sector, as well as the related teeth, blades and cutting edges.

Divitkos said the company supplied many of the major mining companies around Australia and was well-regarded in the sector.

“While the company faced competition from Chinese manufacturers for some components, the major cause of its problems was the downturn in mining activity,” he said.

C&S’ 11 employees have been retrenched and all employees, other than the directors and related parties, are expected to receive their full entitlements.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions