Business

Ostwald Bros. goes into voluntary administration

ADMINISTRATION: Ostwald Bros. have gone into voluntary administration.
ADMINISTRATION: Ostwald Bros. have gone into voluntary administration. FILE

ONE of Dalby's largest employers Ostwald Bros., announced this morning they are placing themselves into voluntary administration.

In a statement this morning, Managing Director, Brendand Ostwald said a "downturn in mining and infrastructure" lead to the decision.

"It is with deep regret we announce, we are placing Ostwald Bros Group and Ostwald Construction Materials into voluntary administration today," Mr Ostwald said.

"Despite our best efforts, more recently, the company has been effected by commercial issues on two major infrastructure projects which has impacted cashflow and forced this decision today."

This comes in the wake of the company walking off the Glenugie to Tyndale section of the Woolgoolga to Ballina Pacific Highway upgrade.

Topics:  business dalby ostwald bros


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