Adelaide wheelie bin maker rolls into administration
The jobs of around 160 workers are uncertain after an Adelaide plastics manufacturer and supplier of wheelie bins to councils entered voluntary administration after 30 years of trading.
Bins made by Trident Plastics on Adelaide streets. Photo: City of Charles Sturt.
St Clair-based Trident Plastics cited manufacturing and supply chain challenges, the impact of COVID-19 and “unplanned and unexpected relocation costs” of a recent acquisition for its decision to call in administrators.
Trident Plastics is one of the largest custom moulders in Australia with services from development and design to manufacturing of plastic products like wheelie bins and rainwater tanks.
The company – which made it into the SA Business Index in 2017, 2018 and 2020 – was established in 1995 by founder and CEO Steen Saurbrey but plastic products have been made at the St Clair plant since the mid-1980s.
In a statement, voluntary administrators Daniel Juratowitch and Rachel Burdett of restructuring advisory firm Cor Cordis said an “urgent review” of Trident’s financial position had commenced.
“We will be providing regular updates to all stakeholders as we work through the voluntary administration process whilst looking at all future options for the Companies,” the administrators said.
A Cor Cordis spokesperson added that the company would continue trading at this “early stage of administration”, and would be advertised for sale.
“A party may propose a deed of company arrangement, which may involve restructuring of the entities,” the Cor Cordis spokesperson said.
“We will have a better position on this in a few weeks.”
Trident Plastics is a supplier of wheelie bins to councils including Port Adelaide Enfield and Charles Sturt, with manufacturing conducted at its 30,000sqm St Clair site.
In 2020 it expanded its product suite to include rainwater tanks following the acquisition of Adelaide-based Maxiplas, which gave it access to large rotational moulding machines and additional injection moulding machines.
On its website, the company claims the likes of Climate Air Conditioning and Holden as clients, while it also boasts the “largest moulding machine in the southern hemisphere”. At the time of appointing voluntary administrators, Trident had approximately 160 employees.
“Our production equipment includes plastic injection moulding, gas injection, co-moulding and plastic welding via 28 machines from 20 to 6,500 tonnes,” says the company on its site.
“We also have two paint booths providing the full range of value-added painting requirements.”
Per ASIC records, the first meeting of Trident Plastics creditors will be held on 6 July at the Institute of Chartered Accountants in Adelaide.
