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Adelaide-based wheelie bin manufacturer Trident Plastics has appointed voluntary administrators this week due to manufacturing and supply chain challenges, as well as the impact of the pandemic and the "unplanned and unexpected relocation costs" associated with an acquisition in 2020.
With 160 employees, Trident Plastics is one of the largest custom moulders in Australia, with products including a wide range of different wheelie bins and skips, RFID tags, kitchen caddies and spare parts, as well as hot stamping services for bin bodies and lids, for example to add council logos or recycling instructions.
Plastic products have been made at the current St Clair plant since the mid-1980s, and the formation of Trident Plastics in 1995 allowed the business to expand into manufacturing.
The business ramped up in 2020 with the purchase of assets from another Adelaide company Maxiplas, complementing its existing operation with large rotational moulding machines and additional injection moulding machines, together with water tanks and water retention systems for both residential, commercial, and agricultural use.
Affiliated entity Tranmor Enterprises operates the rotational moulding business using the trademarked Maxiplas name, and has also called in the same administrators - Daniel Juratowitch and Rachel Burdett of restructuring advisory firm Cor Cordis
"We’ve commenced an urgent review of Trident Plastics’ financial position," the administrators said.
"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."
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