Autodom Limited (in Administration) (Receivers and Managers appointed) started life as Kostech International Ltd in 1985 with the charter to commercialise specialised automated alloy welding technology.
The name AI Engineering Corporation Limited was adopted in 1987 and the company pursued a diversification strategy that included ownership of interests in engineering companies, property, gold exploration, web site development and other diverse investment areas.
In 2001 a strategy to simplify the business and reduce debt saw the sale of many of the businesses and assets. The company's name changed to aiLimited and a dual business strategy of automotive component manufacturing and mining construction was implemented. The name was changed to aiLimited.
In mid 2007 the board came to the view that the two business units gained no advantages from being held in a common entity and in fact would benefit from being separate from each other. The construction division was demerged into Forge Group Limited. Forge is listed on the ASX and has no common directorships or management relationships with Autodom.
Following the demerger and with an expanding focus on automotive component manufacturing the board believed it was time to change the name of the company to reflect its future strategy and position it away from its historical antecedents. aiLimited was renamed Autodom Limited.
Autodom is defined as the world of automotive manufacturing and selling. It reflects the dominant role of automotive in the company's direction and also the desire to be dominant within the sectors of the industry the company chooses to operate in. Whilst investment in other industry sectors is not precluded the main focus is for growth within the automotive component industry.
The automotive industry is Australia's largest complex goods manufacturing sector generating more than $12 billion of revenue per annum. It is the country's largest manufacturing export earner with sales of vehicles and components valued at more than $6bn. Almost half of the cars manufactured in Australia are exported. Australia is internationally recognised as a centre of excellence by each of the three local manufacturers for rear wheel drive vehicle development.
The board of Autodom believe there are considerable opportunities for growth in this sector.