Austrol Industries goes into liquidation

The global financial crisis has forced the liquidation of Australian controller manufacturer and pool accessories distributor Austrol Industries. According to the administrator, the business seemed to have grown too quickly without adequate capitalisation and stumbled in the face of the economic downturn.

All assets of Austrol and its subsidiary Steel River Manufacturing are for sale or have been sold, including intellectual property (IP), tooling and stock.

Waterco has picked up all the pool-related stock, including Austrol’s Aquacell foam products, smart controllers, solar controllers, air switches and timers, bodyguards, Anti Snare Plus, Intermatic valves and actuators, Solar Sun Rings, SwimGym DVDs and underwater MP3 players.

An undisclosed third party has bought the Austrol customer database and IP. However, there is still tooling equipment for sale, including flux baths and advanced soldering facilities.

There will be an auction for these items on March 2, 10am at 78 Kalaroo Road, Redhead. For more information call Ray Tolcher of Lawler Partners on (02) 4962 2294.