Wickman Group, Grant Thornton Australia and Liquidity Services Inc. have announced a three way partnership relating to the collapse of Australia’s passenger car industry and resultant surplus asset sales.
The partnership was re-announced this morning in a statement from Liquidity Services Inc., a US-based auction marketplace for business surplus.
In the statement, Wickman cites the end of Australian manufacturing operations for Ford, Holden and Toyota and the impact on first, second and third-tier suppliers.
Ford will end its Australian car assembly operations in 2016 and Holden and Toyota the year after.
“The purpose of the partnership is to work as a support system and provide value added outcomes for plant and equipment disposal,” said Wickman’s commercial director Owen Coyne.
Grant Thornton Australia’s Mark Phillips said the demise of the local automotive industry was unfortunate, and the partnership could be of value to component makers by providing “greater opportunity to consider diversification by maximising the value of their current equipment, providing liquidity to purchase the right equipment for future manufacturing requirements.”
Phillips leads Grant Thornton’s National Automotive Manufacturing team. As reported by The Australian this week, his company is currently advising some in the auto sector on ways to adapt to a future without a local car manufacturing industry.