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Foundry Daily News

15. August 2017

NZ - Interest in buying A&G Price foundry after closure

About 100 workers lost their jobs after A &G Price foundry in Thames went into liquidation on July 26.

Several parties are currently showing interest in buying the A&G Price foundry in Thames.

About 100 workers, ranging from foundry tradesmen, machinists, fitters, welders and engineers, were told at a meeting on July 26 that they had lost their jobs at the Thames engineering company after the business went into liquidation.

Liquidator Ecovis KGA Ltd director Gareth Hoole said he was trying to sell the foundry and was currently talking to several potential buyers.

A skeleton staff is currently finishing off a few jobs at the A&G Price foundry.

"I'm trying to sell the business and there's a number of parties that are interested in it," he said.

The foundry was currently open on a very limited scale so a skeleton staff could finish off a few jobs over the next month under a Thames-based manager, he said.

"In the meantime, I'm trying really hard to try and sell this."

Meanwhile, staff had been paid their final wages, he said.

"I will address the holiday pay and any redundancies that rank as preferential as money comes available."

E tū, which represents A&G Price workers, is working alongside its members as they deal with the aftermath of the closure.

Union organiser Myles Leeson said the union's priority was the welfare and support of the workers.

"Prices is a long-standing business in Thames. It's one of the town's primary employers and this will hit our members and the town hard.

"These are good quality jobs and new jobs will be hard to find. There will be many households in Thames where people will be worried about their future."

Leeson said the union would be working with the liquidators to ensure workers were paid any outstanding wages and got their redundancy and other entitlements.

He said the company also had some explaining to do.

The union wasn't informed of the closure and there were significant questions to be answered, including the reasons behind the closure, he said.

"Something significant has happened but why have they kept it quiet for so long? Workers will want to know what's cost them their jobs."

Leeson said the union was also concerned about the government's failure to support regional New Zealand and manufacturing as a whole.

"We know Prices has struggled for a while, in large part due to work going to foundries in China where it's cheaper. The result is this closure. Regional manufacturing is shutting up shop and that means lost jobs."

Source: stuff.co.nz

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