There are hopes that potential buyers of beleaguered South Australian manufacturer Penrice Soda Holdings may want to take on the company as a continuing operation and jobs there could be saved.
The Adelaide Advertiser reports that McGrathNicol is the administrator of Penrice Soda Holdings.
McGrathNicol partner Sam Davies told the Advertiser that there are several international and local bidders involved.
“Importantly for Penrice workers and suppliers, the offers are for the plant and the quarry as continuing operations. This augurs well for our ability to save local jobs,” he said.
The company was placed into administration in April as it looked for a solution to a $117 million debt.
As AAP reports, McGrathNicol decided to cut 11 jobs at the company's Osborne Park plant in Perth and called for voluntary redundancies.
The company manufactures sodium bicarbonate and quick lime. It also imports and distributes soda ash throughout Asia and operates a limestone mine at Angaston in South Australia. It had turnover of $137 million in 2012-13.
In June 2013, Penrice Soda stopped manufacturing soda ash and moved to importing.
Non-binding indicative offers closed last week and, according to Mr Davies, a shortlist of bidders will be prepared nest week. Administrators have not disclosed how many bids have been received.