Seven automakers, including Ford Motor Co., GM Holden Ltd. and Toyota Motor Corp. Australia Ltd., have agreed to a A$10 million (US$7.56 million) rescue deal to keep three Australian parts businesses afloat.
Melbourne-based Huon Corp., which went into administration in July, had bought the thermoplastic and rubber auto parts makers - Mills Elastomers, Empire Rubber and FRN - from Melbourne-based Nylex Ltd. last year.
Workers from the Melbourne-based factories went on strike in mid-July after the administrator, Melbourne accounting firm SimsPartners, said it would cut 122 jobs to keep the business going. During the strike, which ended July 26, auto manufacturers could not receive parts.
A National Workers' Union spokeswoman said carmakers agreed to place three-month-forward orders with Huon and accept a 12 percent price increase.