Imports could shut plant

Press, Volume CXVI, Issue 34104, 17 March 1976, Page 25

Imports could shut plant

(N.Z. Press Assn—Copyright) SYDNEY.

Import competition might force Pilkington-A.C.L, Ltd, to again close its sheet glass plant at Alexandria, unless the Federal Government gives substantial assistance. The group, which is 50.3 I per cent owned by Australian Consolidated Industries. ILtd, and 49.7 per cent by Pilkington Brothers of the U.K., is virtually the only producer of float and sheet glass in Australia.

Pilkington-A.C.I. has so far failed to convince the Government that assistance is essential, but it has called for an urgent meeting with the Minister for Industry and Commerce (Senator Cotton).

The company is hopeful that the meeting will take place this week. The 466 employees at the Alexandria plant were informed by the management of the serious nature of Pil-kington-A.C.l.’s problems, and they were warned that the plant was under the threat of closure, although every effort would be made to keep it working. Early last year the plant was closed for two-and-a-half months as a result of the impact of imports of glass. Production of the float 'glass plant at Dandenong, Victoria, had previously I been suspended for three .months from October, 1974.

Containers down Containers, Ltd, a Mel-bourne-based packaging group, recorded another loss in the latest half-year to December. Operating profit fell 15.7 per cent to $A2.lm following a fall from $4.7m to $4.65m in earnings for the past year to June and gross revenue for the December half rose 5 per cent to $65.3m. Containers profit was after writing off $132,000 more at $382,000 in costs associated with the development and production of two-piece cans. Profit was after a 21.1 per cent increase in interest charges to sl.sm, a 9 per cent rise in depreciation to $2.2m and a 7.5 per cent fall in tax at sl.6m. An unchanged interim dividend of 6c a share will be paid.