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Article: Vic: Rescue package gives Ajax workers a lifeline
- Article from:
- AAP General News (Australia)
- Article date:
- August 16, 2006
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AAP General News (Australia)
08-16-2006
Vic: Rescue package gives Ajax workers a lifeline
MELBOURNE, Aug 16 AAP - Workers at a Melbourne car components plant have been thrown
a lifeline with company administrators negotiating a rescue package to save the company
from liquidation.
Ajax Engineered Fasteners in suburban Braeside was expected to stand down workers today
amid mounting debts and a row over about $12 million owed in employee entitlements.
But car companies including Holden - which rely on Ajax for parts - came to the rescue
early today with a package to keep the company afloat.
Administrator Stephen longley of PricewaterhouseCoopers said Ajax had made a $10 million
request to ...