Chassis Brakes acquisition preserves jobs
8 February 2013
Up to 80 jobs have been secured following the purchase by Chassis Brakes International of the Western Sydney based foundry formerly owned by Autocast & Forge.
NSW Trade & Investment has offered support to ensure continuity of the facility in the current economic climate.
The foundry produces vital components for the major local car manufacturers and the continuation of operations will benefit many other downstream companies and employees along the supply chain.
Deputy Premier and Minister for Trade & Investment Andrew Stoner said the acquisition by Chassis Brakes would secure the future of the 160 year old foundry in Seven Hills.
"This is great news for workers at the foundry and for the community in Seven Hills," Mr Stoner said.
"Like many Australian manufacturing companies, the foundry has been adversely affected by a range of external factors in recent times, including the general downturn in motor vehicle spending and relative strength of the Australian dollar.
"The decision by Chassis Brakes to acquire the facility represents a major vote of confidence in the foundry's future," Mr Stoner said.
Chassis Brakes is currently exploring new opportunities in the rail industry and in exports to new markets with a view to expanding production at the foundry.