Strong $A hurts Coffs manufacturer
COFFS Harbour engineering company W.E Smith Engineering, a world leader in its field, says the strong Australian dollar is pricing it out of major mining contracts.
Producing large scale components used by worldwide mining companies from its Toormina headquarters, W.E Smith was forced to release 10 casual staff because of a lack of work last year.
W.E Smith managing director Don Want says the current financial climate, namely the strength of the Aussie dollar, is making it hard to compete for tenders overseas, as well as on home soil.
"We have not been successful in tendering for any equipment in the major projects being built in Australia like the Gorgon Project, in Western Australia, which is probably the biggest in the world, it's just all gone overseas," Mr Want said.
The company recently produced and delivered two massive autoclaves, which were trucked out of the city to the Port of Brisbane bound for a Canadian mine.
Mr Want said the strength of the dollar, in particular is making it tough to compete on the world stage for such projects.