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25 Aug 2003, 10:20 (Ref:698070)
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Veteran
Join Date: Jan 2003
Posts: 774
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Clipsal 500 beyond 2003!!!!!
Announced here today (25 August) in Adelaide that a French comglomerate has bought Gerard Industries (some or all is not patently clear for $700M as I remember.
Now it will be interesting to see if the naming rights as we currently know them will continue Mike |
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Mike McInerney 
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25 Aug 2003, 10:27 (Ref:698077)
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#2 | ||
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Veteran
Join Date: Apr 2003
Posts: 1,890
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Thats a shame, another great Aussie family owned company gone. 700 Large dosent sound very much though, maybe its not the lot?
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25 Aug 2003, 22:45 (Ref:698777)
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#3 | ||
 Race Official1% Club
Join Date: Dec 2002
Posts: 47,173
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Its interesting, the people who bought the company are Schneider Electric, onetime sponsor of the Lansvale Racing Team.
The article in the SMH is below... http://www.smh.com.au/articles/2003/...663738809.html It isnt strictly speaking an Australian owned business, Mr Gerard only owned half, with the other half by a Singaporean company. Its a mature industry with low cost producers in other part of the world easily able to blow Australia away in terms of cost per unit. Just dont mention human rights or quality of life... |
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Go woke, Go broke… Here’s hoping a random universe works out in your favour… The meaning of life… ENJOYING THE PASSAGE OF TIME! #CANCERSUCKS
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26 Aug 2003, 01:16 (Ref:698902)
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#4 | ||
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Veteran
Join Date: Apr 2003
Posts: 1,890
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I wonder was Gerard Ind. caught up in the same trouble with the ACCC last year as Schnieder? There was two other companies that got hit with massive fines ($millions) as well as Schnieder for price fixing on switchboards, big industrial ones.
I must say however as it would have been easy for Schnieder to pack up its bat and ball and go home, they have stayed here, employing plenty of people in regional Victoria, Benalla, and have made their facility a whole heap bigger! The LRT sponsorship was mainly through Rexel, Electrical Supplies. Schnieder also has a connection with the Square D mob in the states that sponsor a NASCAR team. |
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26 Aug 2003, 08:33 (Ref:699108)
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#5 | ||
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Veteran
Join Date: Aug 2003
Posts: 650
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I wonder with a new refurbished Schinder factory 3 or 4 Km from Winton if they will have the Schnider 500 there in 2004.
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Quirky Dirk!
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