Reliance Worldwide will shut down its Australian brass manufacturing business and warns of asset impairment

The company stated that its operations in Moorabbin and Braeside are no longer economically viable, and it expects this move to result in an annual net increase of approximately $9 million in EBITDA by the end of fiscal year 2027. The company said that the reduction in costs in the Americas is expected to be sufficient to offset the impact of decreased revenue in the Asia-Pacific region. The company noted: “The improvement in operating profit reflects enhanced third-party procurement efficiency resulting from the adjusted supply chain, as well as a reduction in US tariff exposure.” Reliance stated that it expects to record a one-off net expenditure of $100 million to $110 million in fiscal year 2026, including goodwill impairment and provisions for layoffs. Reliance said that approximately 85 employees will be affected by this closure.