Albury transmission plant into receivership

AUSTRALIA’S only manufacturer of automatic transmissions, Drivetrain Systems International, has been placed into administration and receivership.

Directors took the decision today, about a month after the company’s biggest customer, SsangYong, suffered a similar fate in Korea.

Drivetrain Systems International (DSI) supplies Ford Australia with the four-speed transmissions fitted to the base model Falcons.

DSI had previously supplied all of Ford’s needs, but the switch to the six-speed ZF transmission for the Falcon left DSI to find customers overseas.

DSI had developed a six-speed gearbox and SsangYong was the biggest customer for it.

Administrators Ferrier Hodgson said it was not expected that Ford’s supply chain would be interrupted by the appointment of administrators and receivers.

DSI employs around 350 people at its Albury plant and also operates a research and development site in Springvale, Melbourne.

DSI directors said they believed a buyer would be found for the company thanks to the investment it has made in its six-speed automatic transmission.