Mining Slowdown Claims S.A. Specialist Parts Firm

The slowdown in Australia’s mining industry has claimed specialist South Australian mining equipment company C&S Wear Parts Pty Ltd.

The family company, based at Regency Park, north of Adelaide, was placed in liquidation late last week following a slowdown in orders.

Liquidator, Mr George Divitkos, a Partner with Meertens Chartered Accountants, said the company’s 11 employees had been retrenched and all employees other than directors/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,” he 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.