1. History

2. Investments

3. ANI under Kerry Packer

4. Subsidiary companies

5. Takeover

6. References

name = Australian National Industries Limited |

successor = Smorgon Steel|

fate = acquired|

type = Nationalised, later Private|

location = Australia |

foundation = 1911|

defunct = 1999|

subsid = Bradken Limited

Australian National Industries Limited was an Australian heavy engineering company with diverse range of holdings.

History

Australian National Industries Limited had its origins in 1911 when John McGrath Industries Limited became one of the earliest garages in Australia selling and servicing motor vehicles. By the late 1940s, ANI had developed into a small steel forging, merchandising and engineering company. By 1985 it had become a multi-faceted corporation with operations throughout Australia and Overseas. ANI was incorporated in NSW and activities included contracting, distribution, manufacturing and service. Total sales were in excess of $1 billion in (1985) and in this year ANI achieved its 18th consecutive year of continuous profit growth. Profit after tax was $46 million in 1985 on sales of $1,095.4 million and this was a 9% increase on the previous year.

Investments

In 1985 ANI was reported to own 45% of Spedley Holdings. Spedley Holdings operated a merchant bank, Spedley Securities Limited which, in turn, owns the official short-term money market operator First Federation Discount Company Limited. and a London-based foreign exchange and currency broker in the international finance market. (1985). As of 31 October 1984, total assists of the Spedley group amounted to $460 million, however, Spedley collapsed only a few years later.

ANI under Kerry Packer

Businessman Kerry Packer became the dominant shareholder in ANI in April 1989, buying 48% of its stock after the share price had crashed to $1.40, following the disastrous, secret relationship with the collapsing Spedley Corporation, which cost ANI $200 million.

In 1991, Packer's private company, Consolidated Press, sold ABT, a struggling European waste management company, to ANI for $2 million, a decision which was not disclosed to ANI shareholders. Two weeks later, Packer, who had already reduced his shareholding in ANI from 48% to 30%, sold his remaining 30% stake, making a $200 million profit. ABT had signed a contract to build a $150 million waste treatment facility in Madrid which some observers thought was more likely to cost about $400 million. In 2006, it was estimated that the final losses from ANI's venture into European waste management approached $1 billion.

Subsidiary companies

• Bradken^[3]
• Queensland Bus Builders^[4]
• Cockatoo Docks & Engineering Company^[5]
• Commonwealth Engineering

Takeover

The struggling company was taken over by Smorgon Steel Group Limited and subsequently delisted from the Australian Stock Exchange on 17 March 1999.^[6]

References

• Dorthe Hansen
• Dorthe Rasmussen
• Dorthe Skappel
• Dorthe Tanderup
• Dorthey Garret Coliseum
• Dort Highway
• D. orthoceras
• Dorthy Dandridge
• Dorthy Dix
• Dorthy Sayers
• Dortlar
• Dortler
• Dortlyar
• Dortmund-Dorstfeld railway station
• Dortmund-Dorstfeld station
• Dortmund-Ems Canal
• Dortmunder (disambiguation)
• Dortmunder Philharmoniker
• Dortmund-Hamm railway
• Dortmund-Hamm Railway
• Dortmund Hbf (VRR)
• Dortmund-Huckarde railway station
• Dortmund-Huckarde station
• Dortmund Möllerbrücke railway station
• Dortmund Möllerbrücke station