CANBERRA – Ion Group Ltd.’s cylinder-head plant is to be closed in July, putting a crimp in Holden Ltd. plans to make all-Australian V-6 engines at its plant in Melbourne. Ion administrator Colin Nicol says the car parts group’s Adelaide plant will close July 1, even though customers had agreed to a 50% price increase. "Despite this very significant price rise, the plant continues to operate at losses of A$18 million ($14 million) a year," Nicol says. The A$110 million ($85 milion) ...
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