Farewell to an era – Goodbye Austro
Farewell to an era – Goodbye Austro
Mention brands like Weinig, Biesse, Striebig, Leitz, Fravol, Felder, Hammer, Lamello, and Kleiberit and inevitably the name Austro springs to mind. For over 40 years, Austro has represented these and other leading European woodworking equipment and consumables suppliers in Southern Africa.
The annual reports of the enX Group, Austro’s JSE-listed holding company, have described the decline of a well-respected and influential business for the past few years. A change of guard, resignations of senior managers, retrenchments, and the gradual loss of key principals fuelled speculation that Austro was struggling.
The Stock Exchange News Service (SENS) reports of the demise of Austro preceded the company’s official notification by several weeks. Sadly, the final announcement did arrive:
“With great sadness, this letter serves to confirm to you, our valued customers, and friends that Austro Woodworking will cease to conduct day-to-day business from 1 June 2022 and will be wound down as a going concern by 30 June 2022.
“We understand that this news will affect your business in different ways. Still, as a management team, we are committed to providing as smooth a transition as possible. We will assign members of our management team to oversee vital aspects of this process. We urge you to call or email us about any major concerns you may have, and we will endeavour to provide you with honest and open engagement.
“In closing, we’d like to thank you and your businesses for their continued support over the 41 years of Austro’s existence.
“We’ve had many highs and lows, and we certainly are proud that the reciprocal business relationships have contributed to your business growth and the woodworking industry in general. We wish you continued prosperity and the best fortune over the coming years. May your businesses go from strength to strength.”
The annual reports of the enX Group, Austro’s JSE-listed holding company, have described the decline of a well-respected and influential business for the past few years. A change of guard, resignations of senior managers, retrenchments, and the gradual loss of key principals fuelled speculation that Austro was struggling.
The Stock Exchange News Service (SENS) reports of the demise of Austro preceded the company’s official notification by several weeks. Sadly, the final announcement did arrive:
“With great sadness, this letter serves to confirm to you, our valued customers, and friends that Austro Woodworking will cease to conduct day-to-day business from 1 June 2022 and will be wound down as a going concern by 30 June 2022.
“We understand that this news will affect your business in different ways. Still, as a management team, we are committed to providing as smooth a transition as possible. We will assign members of our management team to oversee vital aspects of this process. We urge you to call or email us about any major concerns you may have, and we will endeavour to provide you with honest and open engagement.
“In closing, we’d like to thank you and your businesses for their continued support over the 41 years of Austro’s existence.
“We’ve had many highs and lows, and we certainly are proud that the reciprocal business relationships have contributed to your business growth and the woodworking industry in general. We wish you continued prosperity and the best fortune over the coming years. May your businesses go from strength to strength.”
- Grant Hinckley: Acting CEO
- Adrian Vaglietti: Technical and machine sales
- Ferdinand Rossouw: Finances and accounts.
- Norman Fourie: Sharpening and tooling.
By: Joy Crane
Source: WoodBiz Africa Magazine
