Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
BWK establishment not another kodak



Download PDFDownload PDF

Shadow Minister for Industry and Commerce

Ian McLachlan

BWK ESTABLISHMENT NOT ANOTHER KODAK

The announcement in Bremen by the Managing Director of Bremer Woll Kammerei (BWK) Mr Christian Georgi that it would establish a wool combing mill in Geelong with Australian investors, was particularly welcome given that it seemed no taxpayer funded inducements had been required, the Shadow Minister

for Industry and Commerce Ian McLachlan said today.

'The Australian Government seems to have been talked out of the quite improper notion of investing taxpayers' dollars in particular industries, because taxpayers do not want any more ’Sons of Kodak\(In 1986, the Federal Government gave

Kodak $36 million to induce the company to stay in Australia.)

Mr McLachlan was speaking at a lunch in Melbourne.. hosted by the Australian Institute of Agricultural Science, and was commenting on the statem ent in Bremen this week by Mr Georgi that BWK would begin work soon on a wool combing factory to service the growing markets of South East Asia. -Mr Georgi said the plant would be built in four stages, with the first production due on 1 July 1993.

He said the Australian company, Geelong Wool Combing Limited, would be financed by the parent company together with Australian partners including farmers and wool exporters. It was also possible a large Japanese trading company could become involved. ,

Mr McLachlan said the investment in Australia by BWK was a recognition of the potential for value-added exports into Asia if they could be produced at a world competitive price.

’The Company has apparently decided the $25 million Government subsidy which had once been the reward if they came to Australia is now not necessary after all.

'BWK’s entry into the Australian market on an equal basis with other established processors will give Australian woolgrowers the opportunity to negotiate directly with these companies to secure the best price for their wool,' Mr McLachlan said.

Further information:

Ian McLachlan Shadow Minister for Industry and Commerce Telephone: 08 2377140. 8 May, 1992.