July marks the beginning of the new financial year, a time to reset the financial clocks and set off again with new optimism. It’s also a time of reflection for group company Airport Doors, where this time 12 months ago the company was on the brink of extinction after more than 50 years of manufacturing in Australia.
Looking back 12 months ago, under the management of the previous owners the Airport Doors business was in dire financial troubles and subsequently went into administration in August 2016. This period marked a very uncertain time for both the owners and staff of Airport Doors. The sentiment in the market place was that the Airport Doors brand would quietly disappear just like so many other local manufacturers had in this competitive economic environment.
In late August 2016, the AM Group acquired key assets of the Airport Doors business, thus providing the brand with an opportunity to re-invent itself in the marketplace. It was well reported at the time that the Directors of the AM Group saw great strategic benefits with the acquisition of Airport Doors. Airport doors offered access to distribution channels and markets that had not been traditional areas of business for the Austral Monsoon, Ansa Doors and Mirage Doors businesses. Airport Doors also provided a range of new products for the AM Group.
The Airport Doors name has been well regarded in the industry over a long period of time and in the last 12 months the AM Group has done what it takes to rebuild its presence throughout Australia. The business has been able to deliver monthly sales growth for the group and is now importantly in a financially stable position. Just as significant, the customer sentiment in the marketplace has drastically improved and Airport Doors has now (or is in the process of) successfully completing a number of major projects working with some of the largest construction companies in Australia. These projects have included:
• Multiplex Construction_Lighthouse Tower Apartments_Melbourne Vic
• Lendlease_Cambell Barracks Defence Re-development_Perth WA
• H-Troon Construction_Mazda Dealership_South Morang Vic
• Lendlease_Melbourne Airport Terminal 2 Refurbishment_Melbourne Vic
• BGC Construction_Bunbury Fire Station_Bunbury WA
• George Rydell Constructon_Arthurs Seat Redevelopement_Dromana Vic
The transition of Airport Doors has been remarkable and is a testament to the strategic management provided by the AM Group.