Adelaide wheelie bin maker rolls into administration

St Clair-based Trident Plastics cited manufacturing and provide chain challenges, the affect of COVID-19 and “unplanned and sudden relocation prices” of a current acquisition for its resolution to name in directors.

Trident Plastics is likely one of the largest customized moulders in Australia with companies from growth and design to manufacturing of plastic merchandise like wheelie bins and rainwater tanks.

The corporate – which made it into the SA Enterprise Index in 2017, 2018 and 2020 – was established in 1995 by founder and CEO Steen Saurbrey however plastic merchandise have been made on the St Clair plant because the mid-Nineteen Eighties.

In an announcement, voluntary directors Daniel Juratowitch and Rachel Burdett of restructuring advisory agency Cor Cordis mentioned an “pressing assessment” of Trident’s monetary place had commenced.

“We will likely be offering common updates to all stakeholders as we work by the voluntary administration course of while all future choices for the Corporations,” the directors mentioned.

A Cor Cordis spokesperson added that the corporate would proceed buying and selling at this “early stage of administration”, and can be marketed on the market.

“A celebration might suggest a deed of firm association, which can contain restructuring of the entities,” the Cor Cordis spokesperson mentioned.

“We may have a greater place on this in a couple of weeks.”

Trident Plastics is a provider of wheelie bins to councils together with Port Adelaide Enfield and Charles Sturt, with manufacturing performed at its 30,000sqm St Clair website.

In 2020 it expanded its product suite to incorporate rainwater tanks following the acquisition of Adelaide-based Maxiplas, which gave it entry to giant rotational moulding machines and extra injection moulding machines.

On its web site, the corporate claims the likes of Local weather Air Conditioning and Holden as shoppers, whereas it additionally boasts the “largest moulding machine within the southern hemisphere”. On the time of appointing voluntary directors, Trident had roughly 160 staff.

“Our manufacturing gear consists of plastic injection moulding, fuel injection, co-moulding and plastic welding by way of 28 machines from 20 to six,500 tonnes,” says the corporate on its website.

“We even have two paint cubicles offering the complete vary of value-added portray necessities.”

Per ASIC data, the primary assembly of Trident Plastics collectors will likely be held on 6 July on the Institute of Chartered Accountants in Adelaide.

Supported by the Authorities of South Australia