THE 80 workers at Wodonga’s Moore Australasia printing plant will this week be feeling their jobs have greater security after the purchase of debt from Moore’s parent company, Argus Solutions.
Print Media Group, which acquired the neighbouring Paragon Printing operation in April after the company went into voluntary administration, has joined with Adsone to make the purchase, taking PMG’s share of Argus to 50 per cent.
The Moore and Paragon plants have strong links in the printing and distribution of products throughout Australia and overseas.
Supply in the companies’ print area was restored in June but until this week they have not been able to process back orders.
The purchase of Argus’ debt will provide additional working capital for the company to fund its operations and re-establish supply in non-print related areas of the business.
The move by PMG and Adsone, which has won the support of the union, will give Moore and Argus support for an extended future in Wodonga and ensure the jobs of those who might have had few alternative employment prospects within the region.
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