Australian National Industries

Australian National Industries
Company type	Public
Industry	Heavy engineering
Founded	1911
Founder	John McGrath
Defunct	1999
Fate	Acquired by Smorgon Steel
Headquarters	Australia
Products	Engineering services, forging, motor vehicle dealerships
Parent	Smorgon Steel (from 1999)

Australian National Industries was a prominent Australian heavy engineering firm with a wide range of business interests.

History

The origins of the company date back to 1911 when John McGrath commenced selling automobiles and operated the first public garage in New South Wales. The enterprise secured franchises for several automobile brands. By 1929, it had broadened its scope to include the importation of steel and engineering machinery. During the mid-1930s, the company ventured into manufacturing drop forgings and extended its motor vehicle dealerships into additional states.

In the early 1940s, ANI established Australia's largest forging facility in Lidcombe, catering to the aircraft and munitions sectors. The company further diversified into general engineering services. In February 1951, John McGrath Industries Limited was publicly listed on the Sydney Stock Exchange and subsequently rebranded as Australian National Industries in 1956.

Following an acquisition of a 20% share in April 1989, Kerry Packer's Australian Consolidated Press (ACP) initiated a takeover bid, ultimately securing control with a 48% ownership by June.

In 1991, ACP sold its underperforming European waste management firm ABT to ANI for $2 million without informing shareholders. Shortly thereafter, Packer decreased his holding from 48% to 30% and divested entirely two weeks later, realizing a profit of $200 million. ABT possessed a contract to construct a $150 million waste processing plant in Madrid, though expenses were later projected to be near $400 million. By 2006, ANI's losses related to this project neared $1 billion.

An independent investigation led by Bob Ellicott QC in 1997 concerning the ABT transaction was withheld by corporate regulators after ANI's board asserted it contained defamatory content.

In October 1998, Evans Deakin Industries, which owned a 5% stake in ANI, announced a takeover proposal. Subsequently, in December, competing bidder Smorgon Steel launched a successful counteroffer. Following Smorgon Steel’s acquisition, ANI was removed from the Australian Securities Exchange on 17 March 1999.

Subsidiary companies