D C Ross precision engineering

Tragically….
There was a DCC media release New Directors Announced (23.12.14) in which DCHL’s Mr Crombie stated the new directors would “bring a wealth of experience and ideas to the boards” ….with Mr Cull saying “these appointments will inject new blood and proven skills into our Council company boards and I am confident they will contribute towards meeting Council’s increasing demands on company performance”.
Ah well. Our dear Mr Larsen !!

### ODT Online Wed, 21 Sep 2016
Engineers in receivership
By Simon Hartley
Twelve jobs are under threat at specialist Dunedin engineering company D.C. Ross, after its shareholders placed the company, more than 50 years old, into receivership. The McConnon family of Dunedin, who had a sizeable fortune from dairy interests in the days before and after Fonterra’s formation, are the majority 72.5% shareholders. Their Aorangi Laboratories Ltd holds 1.77million shares, split into five wider, equal, family allocations. D.C. Ross chief executive Peter Deans, a 12% shareholder along with co-director Robert Houliston, also with 12%, confirmed yesterday the Kaikorai Valley Rd company was placed in voluntary receivership, by its shareholders, not creditors. Mr Deans, who has been with the company for almost 18 years, said there had been “poor governance” since the aftermath of the 2007-08 global financial crisis and the company was “left to meander”.
Read more

D C ROSS LIMITED (1340666) In Receivership
Incorporation Date: 11 Jul 2003
Registered from 11 Jul 2003 to 14 Sep 2016
Address for service: 570 Kaikorai Valley Road, Dunedin
Pending address change to 188 Quay Street, Auckland Central, Auckland 1010 on 22 Sep 2016
http://www.companies.govt.nz/co/1340666

ODT
13.4.15 Letter to Editor: DCC not holding DCHL to account
12.2.13 Ditching the big brother thing (mention)
27.3.10 Engineers with long experience
24.9.08 Automotive parts engineer reduces staff level

Posted by Elizabeth Kerr

Election Year. This post is offered in the public interest.

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2 Comments

Filed under Business, DCHL, Dunedin, Economics, Finance, Media, Name, New Zealand, People, Project management, Public interest

2 responses to “D C Ross precision engineering

  1. Elizabeth

    Tue, 22 Nov 2016
    ODT: Debts total $19m at DC Ross
    The receivers’ first report into specialist Dunedin engineering company DC Ross has revealed debt of almost $19 million. The company is being advertised for sale globally as a going concern, although 12 jobs remain under threat. DC Ross was placed in voluntary receivership by 72.5% shareholder Aorangi Laboratories Ltd on September 14, largely because of the downturn in the Australian car manufacturing sector, which interrupted cash flow, PwC receiver Malcolm Hollis said in his first report. Cont/

    DC Ross, which has been in business more than 50 years, supplies high precision fine blanking tool and fine blanked components. About 50% of its work is for the automotive industry and up to 40% is for giant Chinese whitewear manufacturer Haier, which owns Fisher & Paykel Appliances. (ODT)

    ● Aorangi Laboratories represents Dunedin’s McConnon family. http://www.companies.govt.nz/co/145768

  2. Elizabeth

    GOOD NEWS

    At Facebook:

    Wed, 21 Jun 2017
    ODT: Scott Tech buys DC Ross
    By Simon Hartley
    Dunedin engineering specialist Scott Technology will increase the size of its Kaikorai Valley operation after buying precision engineering company DC Ross, which is in receivership. The move will complement a separate, up-to-$3million expansion of the listed company’s city workshops. The likely addition of nine of DC Ross’ 12 employees will boost Scott’s Dunedin staff to 84. The company employs more than 400 staff worldwide. “We didn’t want to see the engineering skills disappearing out of the city,” Scott chief executive Chris Hopkins said yesterday. “We used DC Ross’ skills, as well as others in the city.” Cont/

    D C Ross Limited
    http://www.companies.govt.nz/co/1340666

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