It’s the end of the line for 180 workers in Melbourne
Back in August Ajax Fasteners was in the news for all the wrong reasons. The company supplied nuts and bolts used in various sub-assemblies in the cars produced by Ford and Holden.
At that time an administrator was appointed and the big manufacturers offered a short-term lifeline giving the administrator a chance to find a long-term solution to ensure the company’s.
Unfortunately there doesn’t seem to have been a long-term solution for Ajax’s problems and a receiver has been appointed by the major creditor. The receiver is expected to seize the assets of the company today and all workers at the Ajax plant in Melbourne are expected to be stood down from today.
Ajax Fasteners in Receivership