The Hodgman Government's commitment to creating jobs and supporting our manufacturing sector has today seen new life injected into the 180 year old former Bradken foundry at Youngtown, the oldest continuously operating foundry in Australia.
The Government is providing a financial assistance package of $550,000 to assist Castings Tasmania to purchase the foundry and keep it running.
The foundry is vital to the Tasmanian advanced manufacturing supply chain and the northern Tasmanian economy.
The move by Castings Tasmania will mean the operation will continue, following the former owner’s announcement that it would close the business.
Today’s announcement will deliver jobs and a real boost for the north. It will also provide a platform for further jobs growth and the retention of skilled workers.
Under the new ownership the foundry will commence with a workforce of around ten full time employees, with the workforce expected to increase to around 65 over the next three years.
The new operation will benefit from a strong management team at Castings Tasmania, with each director having significant industry and business experience.
Castings Tasmania will continue to build on this strong reputation to meet the requirements of the existing customer base and secure new business opportunities.
Today’s announcement shows that the Hodgman Government will back jobs and investment in the State and is another example of the great work that the Coordinator General is doing.
We congratulate Castings Tasmania on its decision to invest in Tasmania. We wish them every success into the future.