Jewellery

About Jewellery...
Client Login

Jewellery

18th August, 2008

 

AGR MATTHEY TO EXIT THE JEWELLERY BUSINESS

 

The Board of AGR Matthey has taken the decision to exit the jewellery business.  AGR Matthey will no longer manufacture jewellery products in Australia or New Zealand. Facilities will be maintained to complete orders received up to the close of business on 22 August. Sales of local and imported finished jewellery will continue in Australia until 30 September 2008 depending on market demand and results from the Sydney Jeweller Fair.  Over the next two months all these operations will close. The industrial business (medical and brazing alloys) will continue.

 

In recent times, AGR Matthey has adopted a strategy and employed resources to rebuild its jewellery business on the back of imported jewellery sales, but the results have not met our expectations.  In addition, every effort has been made to reduce costs and create a viable business going forward.   Several external factors have also contributed to this decision including; contraction of large manufacturing jewellers relocating offshore; retail chains purchasing more product direct from overseas; rising gold price and slowing wholesale sales.

 

Timing of Closure

 

There will be a wind down of operations during the next two months and key points of note are:-

·         The Sydney and Melbourne Showrooms including the Australian Bullion Company will be closed immediately

·         The Australian & New Zealand manufacturing teams will work to fulfil existing orders.

·         The secondary refining service will not receive refining parcels beyond the 5th of September.

·         Finished jewellery orders will be accepted for delivery up until 30th September.

·         The distribution centre will remain in operation until all finished jewellery orders are despatched

 

Finished Jewellery

 

To allow our customers to place orders for Christmas stocks, AGR Matthey will have a strong presence at the Sydney Jewellery Fair next month and will be offering imported jewellery at significantly discounted prices.  We will have a presence on the main floor with our latest European gold collections and a designated specials room located on the mezzanine floor above.  We advise you to contact your Account Manager or our Customer Service Centre to make an appointment to view the items prior to or during the fair as soon as possible as stocks are limited and prices attractive.

 

Fabricated Metals

 

To allow our customers to place orders for fabricated metal products, AGR Matthey will continue to take orders until the end of this week.  Orders will not be accepted beyond close of business Friday 22nd August and all orders in the system at that time will be fulfilled to the best of our ability.

 

Fabricated Metals Alternative Supplier

 

Fabricated products customers are being referred to AGS Metals on 1300-883-061 (http://www.agsmetals.com.au/ or email info@agsmetals.com.au). AGS Metals has in place a national next day service and over the coming months will be opening more local distribution points around Australia.

 

Fine Gold and Refining Services

 

Arrangements are being made for fine gold grain (minimum order quantity 1 kilogram) to be made available through Perth to wholesale customers with delivery via Brinks premises on the eastern seaboard, provided there is sufficient demand. Larger secondary refining customers may be serviced through the refinery in WA.

 

AGR Matthey would like to thank our customers for their loyalty and support across the years.

 

J R SHEPHARD

Chief Executive Officer