NO NEW MINELAB MACHINES SOON...

[raymondj]

Electronics company Codan to cut jobs despite record $45m profit - ABC News (Australian Broadcasting Corporation)

Well there goes any chance of any new minelab machines coming out soon...and when they do looks like they be manufactured offshore...bugger. Those that dont know minelab is owned by Codan. What are they doing.....

 

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[Longhair]

Did you read the attached story?

Codan in $70m takeover of Minelab - ABC News (Australian Broadcasting Corporation)

 

[raymondj]

Did you read the attached story?

Codan in $70m takeover of Minelab - ABC News (Australian Broadcasting Corporation)

Yes I did..that was in 2008...

 

[locater]

When large holding companies, investment firms take a good company over, one of two things can happen. The first, with an influx of capitol the company can become even better, with new technology, etc.. OR the new owners can take the profitable, company with a good track record and destroy it. They can take whatever profits they can get, and get them any way they can. The fact that Codan cut jobs when recieving record profits does not look good for Minelab!

 

[Longhair]

Sorry, but canning 40 workers out of a worldwide staff of 500 isn't a huge deal. Especially when you consider that the bulk of their business is military, and their biggest clients are involved in wars that are winding down. I don't believe that it will impact their comsumer metal detecting division at all.
Either find and post proof that it will, or quit fear mongering.

 

[locater]

It might be a "huge deal" if you are one of the 8% of the workforce that lost your job and have a family to support. Fear of what?