Australian construction a tale of woe

THE Australian construction sector has been dealt another blow with more workers set to join the unemployment queue.
Australian construction a tale of woe Australian construction a tale of woe Australian construction a tale of woe Australian construction a tale of woe Australian construction a tale of woe

 

Jon Cuthbert

The Australian reports that Nuplex, a global manufacturer of polymer resins, is set to close four factories in Australia and New Zealand with the loss of an estimated 80 jobs.

The company said a Western Australian and a Victorian plant would close in the next two years because of growing domestic costs.

Nuplex chief executive Emery Severin told The Australian that manufacturers and their customers continued to move offshore due to the impact of the ongoing strength of the Australian and New Zealand currencies.

Nuplex’s decision to close the factories follows a disastrous nine months for the Australian construction sector.

Hastie Group, Reed Constructions, D&G Cranes & Hoists, St Hilliers, and International Formwork and Scaffolding have all collapsed this year.

Civil contractor Macmahon recently downgraded its profit forecast. Meanwhile, Leighton has announced the sale of Nextgen, Metronode and Infoplex telecommunications arms in a move to cut debt.

This article first appeared in ILN's sister publication ConstructionIndustryNews.net.

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