THEPENNYGURU
I stumbled accross this article, yes I know it's nearly a year old but it states that CMI Industrial was investing $6.15m into it's Ballarat Factory.
This to mee sounds like a business that is getting support from the banks (I assume based on contracts with suppliers) yet they have no interest in paying the outstanding loan to CMI!
Hoffmeister seems to be doing to CMI what the Board is doing to it's shareholders.
CMI announces 75 new jobs in Ballarat
09 Feb, 2010 12:06 PM
BALLARAT's manufacturing industry has been given a boost with the creation of 75 new jobs at CMI Industrial.
The company, which manufactures specialist metal and plastic products, today announced a $6.15 million expansion of its operations.
The investment will create 75 new jobs in Ballarat and secure the future of 70 existing positions.
A further 50 new jobs will be created at the company's Horsham site.
Regional and Rural Development Minister Jacinta Allan, making the announcement in Ballarat, said the government was supporting the expansion through its Regional Industry Investment Program.
''The support will see the introduction of new research and design activities, precision machining centres, and robotic and CNC machining capabilities at the Ballarat and Horsham sites,'' she said.
CMI Industrial employs more than 550 staff across Australia and New Zealand.
In Victoria, it has sites at Ballarat, Horsham, Campbellfield, Kensington and Footscray.
a new more exciting year has started!, page-3
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Mkt cap ! $91.33M | |||
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