Tuesday, Dec 13, 2005 at 21:36
its changed to early 06 now, it was going to be finished already
so mate still has a job - for a while LOL
ARB heads offshore
By Ian Porter
SHARES in four-wheel drive accessories maker ARB Corporation rallied from two-year lows after the company revealed plans to build a plant in Thailand to get around the shortage of skilled labour in Australia.
The annual meeting yesterday also heard that, while sales of large four-wheel drive passenger vehicles might have slowed this year, ARB was focusing on the four-wheel drive utility market, which is growing rapidly.
Investors took heart from the comments by chairman Roger Brown, pushing the shares up 10¢ from $2.70, their lowest point since August 2003.
Mr Brown said the shortage of skilled labour was a serious concern for directors and had forced the company to built a plant in Thailand.
It would cost between $3 million and $6 million to establish, depending upon whether the premises were owned or leased, and would be operational by early 2006.
There were other reasons to select Thailand, he said.
"A large percentage of the pickup trucks sold around the world are produced in Thailand. Furthermore, there is a very strong local market in Thailand for these vehicles and associated accessories."
Mr Brown said the company was also expanding its retail network, with its new store in
Brighton becoming profitable after two months. A new store is under construction in South Australia, and one is also planned for Wentworthville in
Sydney.
ARB had 22 stores around the country and also had several independent retailers handling its range, giving the company the strongest after-market distribution network in the industry, he said.
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