Ronald I.Meatchem..... Part 2
Member......: 3
Accession No.....: 252009
Ad Date.........: January 02, 1997
Pub Date.........: December 08, 1993
Mod Date.........: January 02, 1997
Page No..........: 23
Publication......: MERCURY
Section..........: MERC
Text:
Motors gets
$13m float
under way
CAR dealership Motor Holdings Ltd will offer 13.8 million $1 shares
in a public float to raise money to fund expansion.
Chairman Ron Meatchem said the float represented a rare opportunity
for Australians to invest in the local car industry.
The company has a core business of car dealerships in Tasmania and
South Australia.
It has Tasmania's only General Motors Holden, Isuzu and Hyundai
dealerships plus BMW dealerships for Hobart and Launceston.
After the issue and planned acquisitions the company forecast it
would have net assets of $17.15 million providing a net tangible asset
backing of 90c a share.
Between 1987-88 and 1993-93, the dealerships increased their
earnings before interest and tax from $2.7 million to $4.1 million and
vehicle sales from 6293 to 8404.
Forecast EBIT for 1993-94 was slightly more than $5 million.
The float is jointly underwritten by Potter Warburg and Shadforths
Ltd.
Member......: 1
Publication.: THE AUSTRALIAN
Date........: November 02, 1995
Headline....: Sales whiz tipped for Ateco
Byline......: ALASTAIR DOAK
Page........: 33
Text...............................................................:
THE former managing director of BMW Australia, Mr Ron Meatchem, is
tipped to join Ateco Properties, distributors of Citroen and Suzuki in NSW
and the ACT.
Industry sources suggest Mr Meatchem, who has been promoting 2-litre touring
car racing, will join Ateco to help build new brands that it plans to add to
the Suzuki and Citroen business.
Mr Meatchem became the managing director of BMW Australia in 1979, a position
he held until August 1993.
He was responsible for building the German carmaker's fortunes here and the
company is now the biggest-selling European brand in Australia.
An announcement confirming the appointment is expected from Ateco's governing
director, Mr Neville Crichton, within a week.
Mr Crichton, who returns to Australia today, was unavailable for comment
yesterday.
Ateco is said to be one of the front-runners to win the Alfa Romeo and Fiat
franchise. The Sydney-based company is bidding against Inchcape Motors
Australia and the importers of Hyundai, Jeep and Chrysler to win the rights
to
sell the Italian cars here.
Fiat was expected to make a decision about its Australian plans before the
end
of the month.
The big Italian company is doing final costings on the models it wants to
import here.
However, the managing director of Alfa Romeo Australia, Mr Dario Novara, said
Fiat would not announce its Australian plans until February.
The complex nature of Australian design rules, particularly ADR69 (the crash
standard) and the requirement for child restraint anchor points, had slowed
the process "considerably". The company was also struggling to get the price
of the Fiat Punto - its entrylevel model - at less than $16,000.
The delay until February means Fiat and Alfa Romeo cars will now not go on
sale until January or February 1997.
To generate interest in the cars, the company still plans to display its
range
at next year's motor show in Sydney.
Member......: 2
Publication.: THE AUSTRALIAN
Date........: November 09, 1995
Headline....: Maverick Meatchem back with blast for 'leaderless' industry
Byline......: ALASTAIR DOAK
Page........: 27
Text...............................................................:
TWO years away from the car industry has not mellowed the former
managing director of BMW Australia, Mr Ron Meatchem.
Back in the mainstream as the managing director of Ateco Properties Pty Ltd
-
the NSW distributor of Suzuki and national Citroen distributor - Mr Meatchem
is already formulating ideas designed to stimulate debate within the industry
and the federal and State governments.
His time away from the industry was spent promoting 2.0-litre touring car
racing.
"I think the industry is mute and leaderless, and I think that applies to
manufacturers and importers. We have to look after the long-term philosophy
and structure of where the industry is going," Mr Meatchem said.
"We have all abandoned our responsibilities in this regard." Mr Meatchem,
64, has been one of the most outspoken car industry executives, lobbying the
Federal Government against its 50 per cent luxury sales tax limit in the late
1980s.
Now working for an importer that sells vehicles in the cheaper, nonluxury
segment, Mr Meatchem is turning his attention to the overall sales
performance
of the market.
"What are we doing about lifting our volumes and modernising the fleet? We
should be doing more than 750,000 vehicles a year," he said.
This year most car-makers expect the local market to top about 630,000
vehicles.
"Our market has been stagnant for more than 25 years and we are still
running
around with more than six million leaded cars.
"We are not going to get them off the roads unless someone is thinking about
ways to achieve this.
"All we hear about is why we should not attack the owners of those vehicles.
"It has gone far too far to be seen as attacking owners of these cars. It is
a question of lead pollution and safety.
We are still living in the 1950s and 1960s.
"By comparison, Canada is a country of about 24 million people and they
produce more than one million cars.
Now some go to the United States, but their domestic market is still growing
and developing.
"For me, the main issue is still the enormity of the currency affect on
pricing and the protection philosophy that this country still has.
"The industry needs to focus on the requirements for the industry. The
Government's tax take is enormous, but no one is doing anything about it.
"I'll try to get people to think about these issues again. We need a clear
industry direction and that can only come from the directors of carmakers,
importers, suppliers and everybody."
Mr Meatchem, who said he took on his new role at Ateco because he was "so
bored living in Queensland", will help build the Suzuki and Citroen in
Australia.
"My role is to strengthen the people structure within Ateco between now and
2000," he said.
Mr Meatchem, who has signed a contract for three years, said one of his
first
jobs would be to convince the governing director of Ateco, Mr Neville
Crichton, to change the name of the company to "something a little more
appropriate".
The Boogieman
And yes, I am still awake!!
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