Austin Engineering to undertake strategic review

Mining equipment manufacturer Austin Engineering is moving its headquarters from Brisbane to Perth, recruitiing a new CEO and embarking on a strategic review of its multi-national manufacturing operations.

The company told investors the move to co-locate with its largest factory at Kewdale in Perth recognised to significance of its Western Australian and Asian operations which are the largest contributor to company profit.

CEO Peter Forsyth has elected not to make the move and will be replaced as interim CEO by director David Singleton, the former CEO of Perth shipbuilder Austal who will will lead the strategic review.

Austin said the shift to Perth would improve communication with customers, placing senior executives closer to a number of major mining companies headquartered in Perth.

Austin has operations in Australia, Asia, North and South America where it makes and maintains customised dump truck bodies, buckets, water tanks, tyre handlers and other ancillary products.

The company was hit by the initial stages of the Covid-19 pandemic, and as a result rationalised its Hunter Valley and Site Services operations in Australia and terminated low margin site contracts in South America.

Its South American operations are also under review.

Austin chairman Jim Walker thanked Forsyth for his service and leadership during the pandemic which had left the company in a strong position going forward.

“Under his tenure the company comprehensively resolved well recognised balance sheet issues and recommenced paying dividends.”

Picture: Austin Engineering.

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