A further 90 jobs will be lost from Melbourne’s western suburbs when Tottenham power cable manufacturer Nexans Olex closes its doors before the end of the year.
Drop in demand linked with a high Australia dollar has driven the decision to close, with products manufactured at Tottenham struggling against global competitors.
Nexans Olex is Australia’s largest power cable supplier and has operated for almost 70 years, employing more than 700 staff in Australia and New Zealand.
The job losses add to the thousands of jobs expected to go as a result of local auto industry closures.
A statement issued by the company indicated the exact timing of the Tottenham closure will coincide with the completion of forward orders.
“Nexans Olex has taken this step to position the company for a sustainable and successful future in Australia,” the company stated.
“Over the coming months, Nexans Olex will work closely with customers to ensure they are provided with the best cable solutions.”
The company has vowed all employees affected by the closure will receive their full entitlements and be assisted with the transition.
The company’s Lilydale site and New Zealand operation are unaffected by the decision.
