Esco Dunedin was among a group of neighbouring businesses objecting to Russell Lund’s plans to redevelop the 142 year old Loan and Mercantile building, citing reverse sensitivity concerns, including over noise. The outcome of Environment Court mediation talks was yet to be revealed, but Mr Kershaw said the issue played no part in the company’s decision. (ODT)
### ODT Online Wed, 2 Sep 2015
Foundry closure ‘a blow’
By Chris Morris
Australia’s mining downturn is set to deliver a “real blow” to Dunedin’s economy with the closure of the Esco foundry and the loss of dozens of jobs. Staff at Esco Dunedin were told yesterday the foundry would close by the end of the year, with the loss of 34 jobs. Esco products division president Jeff Kershaw, of Portland, in the United States, said in a statement the decision reflected a downturn in Australia’s mining industry that showed no sign of letting up.
█ Remember when Esco pushed this button (highlighted) at the NZ Loan and Mercantile Building resource consent hearing:
█ From file records, see Russell Lund’s percipient closing to hearing:
[para] 102. The biggest hurdle would seem to be the decline of the Australian coal mining industry. I refer to a Guardian article May 5, 2014 Australian Coalmining entering structural decline.
116. Esco have a large foundry operation in China. They employ 675 people in China.
117. I am very sure the production costs of Esco’s Chinese foundries are markedly less than in Dunedin, Portland or anywhere else. That is the ticking clock for the Dunedin foundry, and other Esco foundries.
118. The bottom line is that Esco will operate this small Dunedin foundry only as long as it serves their shareholders’ interests. If the market conditions dictate that consolidation is required and it is surplus to requirements, then they will act swiftly, as they did in Brisbane.
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█ For more, enter the terms *loan and mercantile*, *heritage*, *bradken* or *harbourside* in the search box at right.
Posted by Elizabeth Kerr