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BRIEF-Austin Engineering closes Brisbane manufacturing facility in Queensland

Published 24/11/2015, 12:13 pm
Updated 24/11/2015, 12:20 pm
© Reuters.  BRIEF-Austin Engineering closes Brisbane manufacturing facility in Queensland

Nov 24 (Reuters) - Austin Engineering Ltd ANG.AX :

* Rationalisation of East Coast operations ANG.AX

* Closure expected to reduce the company's annual operating costs by $2.8M

* Rationalisation of its four east coast operations, through closure of its Brisbane manufacturing facility in Carole Park, Queensland

* Says total closure cost of $1.7M of which $0.3M has already been provided for in leave provisions

* There will be no impact on the ability to meet its customers' needs in both the short and long term as a result of this rationalisation"

* Says will retain the flexibility to re-open the Brisbane manufacturing facility depending on future market conditions

* Source text for Eikon ID:nASX5rQCLb

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