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Cotton mill crisis puts 200 jobs at risk
23 Oct 2003
Rocklea Spinning Mills, one of the nation's largest cotton processors, has gone into receivership, putting 200 jobs at risk. Of particular concern is the future of the 80 workers at Rocklea's spinning mill at Moe in country Victoria, where there is little prospect of other jobs. There are also 30 workers at the dye-house in Tullamarine, Victoria, and 100 workers at a Brisbane spinning mill.
The company's failure comes at a time of intense price competition in the textiles industry. Prices for Australian-grown raw cotton rose during the drought, but prices for finished yarn slumped as low-cost cotton spinning operations proliferated throughout Vietnam, Pakistan, Iran and Indonesia. Receiver Nic Brooke said Rocklea's woes were compounded by the strengthening $AUD, which made exports less competitive against foreign low-cost producers.
The Age, 23/10/03.
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