‘Griffin employees need certainty’, Holt
Author: Colin Holt
Published on: 24-May-2010
Nationals’ member for the South West Region Hon. Colin Holt has called on the administrators of Griffin Coal to act with expediency to find a new buyer. Griffin employees and the Collie community deserve to have some certainty about future operations of the company.
Griffin Coal went into administration in January this year. It was reported on May 15 that the company was carrying mounted debt of $700 million.
Last week at State parliament, Mr Holt echoed the concerns of the Collie community, when he asked why the process of finding a new suitor for the Griffin operations continued to be delayed.
“The Collie community wants to know what will happen to Griffin, sooner rather than later, the impact of Griffin’s problems on the families of Collie is too important to be forgotten,” said Mr. Holt.
There have been media reports that there are between 90 and 100 companies interested in purchasing the Griffin Coal assets, but the process seems to be delayed with a sale not likely until October 2010.
“I understand that the administrators have a complex task, but an ongoing delay fails to provide business with certainty and causes the Collie community much anxiety. I urge the administrators to act quickly in everyone’s interest” said Mr Holt.
For further comment or information please contact Hon. Colin Holt on 0418 902 204
