High Energy Automotive Components calls it a day

[Franco Cozzo]

Not sure if anyone is familiar with these brands, but the manufacturing operation in Resevoir here in Melbourne's northern suburbs, making various automotive components has called it a day, includes the following brands:

High Energy Automotive Components

http://highenergyautocomponents.com.au/index.html

CPC Australia/Autocaps Australia

http://www.cpcauto.com.au/

Preslite Drive Technologies:

https://www.preslitedrivetechnologies.com.au/

A bit sad, they had the capabilities to make DC motors from scratch, even down to winding the armatures, would have had to be the only place in the country with that capability we've just lost.

Last month they called it a day - another manufacturing industry loss for Melbourne, all their production staff gone, they're going to sell the property, its absolutely massive, I think its a case of the property being worth more than the businesses themselves.

https://www.commercialrealestate.com...073-2016749871

[mad2]

bugga

[Franco Cozzo]

I think with the value of land around Melbourne this is probably going to be common place for any manufacturing business that owns the property they're operating out of, especially larger scale stuff like this where they're probably sitting on 8 figures worth of property with development potential.

[lumen8]

I remember their oil pans, bought one for a cleveland once, nice design with a screen.

Tough to compete with all the chinesium stuff , then the land value as you said.

[Dr Smith]

Originally Posted by Franco Cozzo

I think with the value of land around Melbourne this is probably going to be common place for any manufacturing business that owns the property they're operating out of, especially larger scale stuff like this where they're probably sitting on 8 figures worth of property with development potential.

If they were to develop the land they'll make more money in 1 year than what they've done in the last 10 and with enough to retire...

[Dr Terry]

Originally Posted by Dr Smith

If they were to develop the land they'll make more money in 1 year than what they've done in the last 30 and with enough to retire...

Fixed it for you.

Dr Terry

[Franco Cozzo]

That whole industrial area in Reservoir where they are, it will all be residential within 10 years I reckon, it's the next spot that will gentrify.

Reservoir itself has already gentrified but it's Melbourne's largest suburb, parts of it are industrial, parts of it are gentrifying and parts of it you wouldn't walk at night

[hayseed]

Originally Posted by Dr Smith

If they were to develop the land they'll make more money in 1 year than what they've done in the last 10 and with enough to retire...

And Good Luck to Them.... I say.

[Dr Smith]

Originally Posted by Dr Terry

Fixed it for you.

Dr Terry

Reminds me about a doco once on a Japanese farmer situated inside Narita airport grounds. Land worth in the millions if sold to the airport and small farming income, I think the offer to sell was about 150 years of farmer wages...cash poor but asset rich...
https://www.youtube.com/watch?v=JhYm1oXBN2Y&t=196s

[Citroënbender]

What a shame. Right on the cusp of when we’re trying to give a heave-ho to President Xi’s plans.

[Franco Cozzo]

Originally Posted by Citroënbender

What a shame. Right on the cusp of when we’re trying to give a heave-ho to President Xi’s plans.

Its effecting much more than just car enthusiasts, I'll keep it to that.

[Magee]

I remember visiting the Preslite factory about 25 years ago when they were making the Delphi fuel pumps for Holden.

I may be wrong but I think the Preslite name came from a cigarette lighter the factory was making when they first started a long long time ago.

[XR Martin]

In 50 years we'll wonder what we thinking building ****ty cookie cutter housing estates on prime agriculture land (SE Melbourne) and on light industrial land (NW Melbourne)

[LG17]

I think they made all the wiper motors for Aussie cars too so the end of that industry would have been a major blow.