ASX:RWCBuilding
How Shutting Australian Brass Operations Will Impact Reliance Worldwide (ASX:RWC) Investors
Reliance Worldwide has recently announced it will close its brass casting, forging and machining operations in Moorabbin and Braeside, Melbourne, along with smaller Australian sites, incurring an expected one-off US$100 million to US$110 million charge in Fiscal Year 2026 and affecting about 85 employees.
The move is part of a broader shift to automated US production, third-party brass sourcing in Asia, and increased use of stainless steel, which the company expects will lift group EBITDA by...