Jun 26, 2017 Last Updated 10:15 AM, Jun 26, 2017

New Entry From the Editor :

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Bega Cheese launches $160m capital raise

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Toyota makes Australian comeback

AusBN – Toyota (LSE: TYT; NYSE: TM) has reported a huge after-tax profit strengthening its position to continue manufacturing in Australia.

The company recorded a significant turnaround, with an after tax profit of A$194 million, for 2014-2015.

A loss of $437 million had been recorded in the previous financial year.

Strong local and export vehicle sales and efficient cost management were cited as the key factors behind the return to black.

Toyota Australia president Dave Buttner said: "Despite some difficult announcements during the past 12 months, our employees have continued to be committed and passionate.

"It's been extremely pleasing to see everyone working together, especially as the company prepared for last month's launch of the new-look Camry."

The updated Camry, Camry Hybrid and Aurion passenger cars will see out Toyota's manufacturing operations in Australia. Buttner said he was satisfied with local sales of the new model, along with exports, which contribute roughly 70 per cent of overall volume for those models.

"We are pleased that our vehicle line-up continues to appeal strongly to Australian motorists," Buttner said.

"Toyota has again retained its overall market leadership for the twelfth consecutive year and our Corolla topped the national sales chart for the second year running."

Toyota's result follows a $191 million loss recorded by Ford Australia in May. Holden is set to release its latest financial data in the coming weeks.

@AusBNOnline

Airbus Group Australia Pacific acquires Safe Air

AusBN – Airbus Group Australia Pacific has acquired Air New Zealand’s aviation maintenance, repair and overhaul, design and manufacturing subsidiary Safe Air.

Safe Air’s main facility is based in Blenheim but the company also has facilities in Ohakea and Whenuapai, Auckland and Melbourne.

The company is responsible for RNZAF P-3K2 Orion and C-130H Hercules airframe, engine and propeller maintenance.

Air New Zealand COO Bruce Parton said: “Our history with Safe Air spans more than four decades, and it is important to us that we ensure its success in the future.

“Airbus Group is highly regarded in the aviation industry, and as a world-class military service provider is closely aligned with the services Safe Air undertakes.”

Airbus Group Australia Pacific MD Jens Goennemann added: “Safe Air’s reputation, skill set and outlook are all strong and closely align with Airbus Group.

“We have worked with Safe Air in the past, and for us, bringing the company into Airbus strengthens our position and potential in New Zealand.”

@AusBNOnline

660,000 cars with faulty airbags recalled

AusBN – More than 660,000 cars sold in Australia have been recalled due to being fitted with potentially deadly airbags.

The airbags can explode shrapnel if deployed in a crash and have already killed six people overseas.

The airbags, manufactured by Japanese company Takata, are fitted in the cars of more than 20 popular manufacturers.

Honda has recalled 18,210 Accords made between 2001 and 2006, as well as 3030 MDX family SUVs made between 2003 and 2006; while Chrysler has recalled 5,500 300C sedans.

No injuries have been reported in Australia yet, but the owners of affected cars have been warned not to try to disable the faulty airbags because this would only increase the risk of injury.

Legal experts have said that the car owners in question have no choice but to wait until a replacement for their car becomes available.

@AusBNOnline

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