Elphinstone reaps jobs, growth bucks

Funds to keep North-West workers

A COMPANY run by Tasmania’s richest man Dale Elphinstone has been granted $5 million to modernise its manufacturing operations on the North-West Coast.

Elphinstone Group applied for the funds — which were originally earmarked for the mining equipment maker Caterpillar — under the Federal Government’s $106 million Tasmanian Jobs and Growth Plan in 2015.

Caterpillar’s grant was axed when the company decided to shift to Thailand, causing the loss of 300 jobs in Burnie.

Elphinstone took some time to provide the relevant department with sufficient information during last year and Regional Development Minister Fiona Nash ticked off on the funding in May this year.

A spokesman said $4 million had been delivered with a further $1 million deliverable upon the achievement of a milestone.

“It will create 10 jobs in construction and enable the retention of 112 jobs,” the spokesman said.

Mr Elphinstone is also chairman of Haulmax (Aust) Pty Ltd which received $3 million from the same plan in 2014 to develop a prototype of specialised mining machinery.

The BRW Rich 200 2017 ranked Mr Elphinstone Australia’s 156th richest person with a fortune of $475 million.

Former prime minister Tony Abbott appointed Mr Elphinstone as co-chairman of the Federal Government’s Joint Commonwealth and Tasmanian Economic Council when it was established in 2013. He was reappointed by Treasurer Scott Morrison to lead the council’s business group although it has met just once since April last year.

Mr Elphinstone was an apology at the recent Liberal State Council in Launceston.

The Tasmanian Jobs and Growth Plan was established by the Rudd Labor government shortly before the 2013 election.

Defence Industry Minister Christopher Pyne visited the company in May when he was in the state to talk up Tasmanian chances of involvement in the $195 billion build-up of Australia’s military capability.

Haulmax, now known as Elphinstone, won a recent tender to partner with Bustech Pty Ltd, to manufacture 100 new Metro buses, creating 24 full-time jobs.

Mr Elphinstone’s company Elph Investments recently injected $30 million into Haulmax after it recorded a $4.3 million after-tax loss last year.

The Tasmanian Jobs and Growth Plan was originally compensation funds from the Rudd government for the Tasmanian Forest Agreement.