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Ion demise puts Holden's head on the block.(Ion Limited)(Holden Ltd.)(Brief Article)
Australasian Business Intelligence, February, 2005 by Porter, Ian
Feb 15, 2005 (The Age - ABIX via COMTEX)
The decision by Ion administrators to abandon Ion's engine block plant in Altona, Victoria, has severe implications for Holden. The engine block plant was to be the sole supplier of blocks to Holden's $A400 million Fishermans Bend V6-cylinder engine plant. However, in mid- February 2005, Holden and its parent, General Motors, are desperately attempting to find another engine block supplier so Holden can meet its export requirements. Jason Laird, a spokesman for the Australian automobile maker, says Holden has not considered purchasing the Altona engine block plant. Holden is also believed to be concerned about pending decisions on an Albury transmission plant and on Ion's Wingfield plant, in South Australia.
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