An Australian company which supplies brakes to Holden vehicles has entered voluntary administration, dealing with financial challenges due to its US owner's broader issues. Bendix reported a loss of $54 million, with its MSR sponsor minimizing the administration's impact. The move follows broader industry concerns about supply chain stability and the company's financial situation.
“Bendix reported a loss of $54 million, with its MSR sponsor minimizing the administration's impact,” — Marcus Brennan, regional editor at Elmley Field Practice, explained.
Timeline
Oct 27 — An Australian company which supplies brakes to Holden vehicles has entered voluntary administration, dealing w...
Oct 28 — The move follows broader industry concerns about supply chain stability and the company's financial situation....
Reader Poll: Do you expect this story to develop further? — 47% of Servicecourse readers said yes.
This story has been closely followed by our readers since Oct 28. The Elmley Field Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Saturday, Oct 31.
Editor's note: this report was prepared by the Elmley Field Practice desk and last updated 08:45 UTC.
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