{"id":73201,"date":"2024-01-17T09:23:06","date_gmt":"2024-01-16T22:53:06","guid":{"rendered":"https:\/\/www.aumanufacturing.com.au\/?p=73201"},"modified":"2024-01-17T09:32:47","modified_gmt":"2024-01-16T23:02:47","slug":"manufacturer-insolvencies-rose-in-second-half-of-2023","status":"publish","type":"post","link":"https:\/\/www.aumanufacturing.com.au\/manufacturer-insolvencies-rose-in-second-half-of-2023","title":{"rendered":"Manufacturer insolvencies rose in second half of 2023"},"content":{"rendered":"
New statistics from the Australian Securities & Investment Commission released halfway into the financial year show 243 manufacturing companies became insolvent during July – December 2023, compared to 235 and 84 for the same period in 2022 and 2021.<\/span><\/p>\n In a statement from federal opposition industry spokeswoman Sussan Ley recapping recent collapses, the government\u2019s \u201cfailed industrial policies and distracted priorities\u201d were blamed for the results.<\/span><\/p>\n \u201cLabor promised they would \u2018rebuild Australian manufacturing\u2019 but all they\u2019ve managed to assemble is an industrial graveyard, a graveyard which is now littered with once great Australian businesses,\u201d said Ley.<\/span><\/p> \u201cLabor bet the house on the National Reconstruction Fund and contrary to the Prime Minister’s misleading statements this week, it is not \u201copen for business\u201d and is not delivering any support.\u201d<\/span><\/p>\n The statement cites recent collapses including Sara Lee, Hiro Brand and Trident Plastics, and Tritium\u2019s decision to carry out all production in the United states<\/span><\/p>\n The ASIC figures<\/span><\/a> were published last Wednesday, during a week when Alcoa announced that it will close its six-decade-old Kwinana alumina refinery in Western Australia.<\/span><\/p> Picture: Kwinana Alumina Refinery (credit Alcoa Corporation)<\/p>\n Further reading<\/b><\/p>\n Alcoa to cease operations at Kwinana Alumina Refinery<\/span><\/a><\/p>\n PM insists NRF money available now, though application process unclear<\/span><\/a><\/p>\n Can Canberra arrest the flow of manufacturers leaving for the US?<\/span><\/a><\/p>\n