Ford supplier lock out?

[Joe5619]

How many down days where planned for the next 2-3 weeks?? Might not make any differnece if they have to stop this week as they can replace these ones with other down days that where planned & cancel them? Maybe?

[JPFS1]

looks like there could be a backup supplier on the cards until this gets sorted, if at all... although not local.

[svo supporter]

Heard on the late news, Ford is looking how they can bail CMI out of this situation.

[robbo/region15]

Originally Posted by Joe5619

How many down days where planned for the next 2-3 weeks?? Might not make any differnece if they have to stop this week as they can replace these ones with other down days that where planned & cancel them? Maybe?

Non -Production down days @Ford were to be May 4,11,18,25 followed by June 1,15,22 & 29.............Thats the calendar we were given back on April 11th.
Cheers

[robbo/region15]

Update:
Ford to have a long w/end this week end from tomorow ,returning Wednesday 2nd May.......[Continental & Dana following suit]

[redman]

Originally Posted by robbo/region15

Update:
Ford to have a long w/end this week end from tomorow ,returning Wednesday 2nd May.......[Continental & Dana following suit]

Not looking good.
The Age has a short statement...

http://news.theage.com.au/breaking-n...426-1xn1x.html

AAP

Ford is to close down its Australian car-making operations until next Wednesday, a company spokeswoman said.

The company has made the decision in response to the failure of parts manufacturer CMI Industrial.

Ford spokeswoman Sinead Phipps said production would cease from the close of business on Thursday

[Joe5619]

Originally Posted by robbo/region15

Non -Production down days @Ford were to be May 4,11,18,25 followed by June 1,15,22 & 29.............Thats the calendar we were given back on April 11th.
Cheers

That means this focred closure will mean nothing to Ford at all.. They can just cancel anyone of those days to make up for these ones... Or is it not as simple as that?


On a side note.. Why so many down days? That is 4 day weeks for 2 months??

[robbo/region15]

Originally Posted by Joe5619

That means this focred closure will mean nothing to Ford at all.. They can just cancel anyone of those days to make up for these ones... Or is it not as simple as that?


On a side note.. Why so many down days? That is 4 day weeks for 2 months??

The Official FOA reason for down days is "Due to a weaker industry year to date & the need to align production output to forecast customer demand......"

[csv8]

Originally Posted by robbo/region15

The Official FOA reason for down days is "Due to a weaker industry year to date & the need to align production output to forecast customer demand......"

Translated..we are killing the Falcon.....I hope not

[JPFS1]

Originally Posted by csv8

Translated..we are killing the Falcon.....I hope not

That's your translation, certainly doesn't make it accurate.

[Gobes32]

Originally Posted by Joe5619

On a side note.. Why so many down days? That is 4 day weeks for 2 months??

Simple answer? No one is buying Falcons.

[HUNTER8]

Seems rent's not the only issue......

http://media.wotnews.com.au/asxann/01228917.pdf

CMI Limited (ASX:CMI) today announces that the $17 million vendor loan
advanced by it to CMI Industrial Pty Ltd (Industrial) which was due for repayment on 16 October 2011 has not been repaid. The loan was advanced to Industrial in connection with the sale of CMI's former engineering business as was announced to the market on 18 February 2008.

The loan was originally due for repayment on 16 April 2011 but, as was announced to the market on 18 April 2011, the date for repayment of the loan was extended to 16 October 2011.

CMI and Industrial are in discussions in relation to the repayment of the loan. CMI has reserved its rights under the loan agreement and its securities and is considering the options available to it.
The principal amount of the loan together with accrued interest is presently
$17.2 million. In addition, costs related to the sale of the engineering business in the amount of $246,377 are due to CMI pursuant to the sale documents.

As announced on 24 June 2010, CMI has impaired the value of the loan in its
books to $8.5 million.

[HUNTER8]

Oh and it gets even better....

http://www.realcommercial.com.au/pro...ield-500250429

Landlord is trying to sell the property.

[Cúl-Báire]

Further news.

http://au.news.yahoo.com/a/-/latest/...d-cmi-closure/

About 200 jobs are on the line in southern Queensland after national manufacturing firm CMI Industrial was placed in voluntary administration.
CMI Industrial owns a number of plants and distribution facilities in Victoria, Queensland and overseas.
It has had to call in administrators Grant Thornton and McGrath Nicol to urgently review the company's financial situation.
The future of workers at CMI's Melbourne car parts factory hinges on Federal Court action today.
CMI workers have been shut out of their Campbellfield factory in Melbourne for a week, because the owner had not paid the rent.
Queensland operations
Meanwhile in a statement, Matt Byrnes from Grant Thornton, says it is in discussions with customers and stakeholders of its two Queensland operations - Toowoomba Metal Technologies and Bundaberg's CMI Water - to secure their future.
The Australian Manufacturing Workers Union (AMWU) says it has been in ongoing talks with management to safeguard about 200 jobs at both those sites.
AMWU national president Andrew Dettmer says it is the latest blow to manufacturing on Queensland's Darling Downs.
"Unfortunately this follows the folding of Orford Refrigeration in Toowoomba and a number of other closures, including the milk factory," he said.
"We're very concerned that we are facing a situation where manufacturing in Toowoomba is really under threat."
The administrator has been contacted for comment.