A South Australian mining parts and equipment supplier has become the latest casualty of the commodities slow down with the company closing it’s doors late last week.
C&S Wear Parts Pty Ltd, a family owned company at Regency Park, has been forced to retrench 11 employees as the company goes into liquidation.
Liquidator, Mr George Divitkos, said all employees other than directors and related parties, were expected to receive their full entitlements.
“The company has no bank debt, but the slowdown in the mining industry had seen its order book collapse to the point Directors believed the company had no choice but to close,” Mr Divitkos said.
“We will be advertising the business for sale in the next few days and will be looking to sell the assets in situ. Failing that, the assets will be sold by public auction.”
C&S Wear Parts manufactured and repaired buckets for diggers and graders used in the mining sector, as well as the related teeth, blades and cutting edges.
Mr Divitkos said the company supplied many of the major mining companies around Australia and was well regarded in the sector.
“While the company faced competition from Chinese manufacturers for some components, the major cause of its problems was the downturn in mining activity,” he said.