"if we don't do this, then the business will die."

  1. 180 Posts.
    The ABC website said(I posted this before):

    Last Update: Monday, February 6, 2006. 8:24pm (AEDT)
    Nylex axes 120 jobs with plant closure
    Manufacturer Nylex says it has to shut down a plant in south-east Melbourne because the facility is more than 60-years-old and uncompetitive.

    Nylex's industrial products plant in Mentone will close next month causing the loss of 120 jobs.

    Several employees are likely to be relocated to the company's other plants in Victoria but most will receive redundancies.

    Head of Nylex industrial products Mark Stevens says production at the Mentone plant will be outsourced, mainly to Malaysia.

    "I don't think we are sending jobs offshore, we are actually using available capacity offshore and giving our shareholders a return, through improved earnings," he said.

    "If we don't do this, then the business will die."
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.