Reliance Worldwide closes Melbourne sites, 85 employees to be affected
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The news: Reliance Worldwide has unveiled plans to close its Melbourne-based operations, saying it is no longer economically viable to continue
The restructuring is expected to deliver financial benefits to the company’s results starting in FY27.
The context: The closure of its brass casting, forging and machining operations in Moorabbin and Braeside, alongside additional smaller sites, follows a sustained reduction in brass volumes. This was driven by automation at its US facility, which enabled local production for North American markets and subsequently reduced demand for Australian-sourced components.
The company said the closure will affect 85 employees by July.
Reliance Worldwide will recognise a total one-off net charge of USD100 million ($142 million) to USD110 in FY26, with USD5 million allocated for redundancies and property exit costs.
The company expects a net annual EBITDA benefit of around USD9 million across the group by the end of FY27, reflecting an expected net annual benefit to the Americas region of USD18 million, offset by a USD9 million adverse impact on the Asia pacific results.
The source: ASX
