Page 6 - Australasian Paint & Panel May-June 2020

NEWS
6
PAINT&PANEL MAY / JUNE 2020
WWW.PAINTANDPANEL.COM.AU
8 GOOD AS GOLD • 10 IBODY SHOP HELPS • 12 UK INDUSTRY REPORT
AMA REVISES TERMS WITH SUNCORP
A
MA GROUP HAS ANNOUNCED IT
has completed the annual
planning process with Sun- corp, establishing revised terms for the motor repair part- nership with Capital SMART. The plan delivers AMA increased average repair pricing and volume increases re- flecting a change in the mix of repairs to be pathed through the Capital SMART network. This result is in line with expectations released at the time of the acquisition in October 2019, the
company says.
Both Suncorp and AMA Group ac-
knowledge that there are additional costs associated with repairing today’s modern vehicle fleet safely, including the increasing costs of new technolo- gies such as ADAS, and these costs need to be and are captured in the new pricing models.
CEO, Andy Hopkins said: “I am pleased with the outcome for both Sun- corp and the AMA Group. The result strengthens our long-standing relation- ship and recommended repairer status
with Suncorp. The revised terms and volume commitments show Suncorp and AMA Group working together to en- sure customers receive high quality re- pairs and service as well as delivering ongoing shareholder value.”
As a consequence of the impact of COVID-19 measures the company with- drew the FY20 guidance issued on Feb- ruary 26, 2020.
Commenting on increasing the com- pany’s working capital facility by anoth- er $35m Hopkins said: “I am pleased to have the support of our bankers to en- sure the company remains resilient to the challenges it is facing and, with strong financial resources, a committed management team and employees we will navigate the business through these uncertain times.”
Both Suncorp and AMA Group acknowledge that there are additional costs associated with repairing today’s modern vehicle fleet safely, including the increasing costs of new technologies such as ADAS.
CORONAVIRUS SUPPORT
Community Support Forum, where Cap- ricorn members can connect, share ideas and discuss their experiences. The Capri- corn team is also available through these forums to answer any questions that members may have. Capricorn’s commu- nity platform also features a resources section dedicated to ensuring members are accurately informed of any changes to the assistance packages both at the federal and state levels, a series of videos designed to help workshops through these extraordinary times and a compre- hensive list of mental wellness resources. Since March 20, The Workshop commu- nity platform has had over 16,500 visits and over 10,000 new users accessing the information made available.
“All of us at Capricorn understand that we are all in this together and that supporting our members, preferred sup- pliers and staff through this pandemic is paramount,” Fraser said.
FROM CAPRICORN
CAPRICORN, HAS ACTIONED A DETAILED
COVID-19 communications plan to as- sist over 20,000 members, along with preferred suppliers and staff located across Australia and New Zealand.
Led by Capricorn Group CEO David Fraser, a detailed strategy was introduced, ensuring that members in each country are accurately informed of the business sup- port mechanisms that may be relevant to them.
As the vast majority of Capricorn member are small, family owned auto- motive aftermarket businesses, these communications include timely member exclusive COVID-19 emails providing in-
formation in line with announcements made by state and federal governments and how these are relevant.
In addition to direct communications, Capricorn also continues to update “The Workshop”, the cooperative’s member community platform that provides busi- ness support and resources to help mem- berstay strong through COVID-19.
The Workshop includes a COVID-19
David Fraser: “All of us at Capricorn understand that we are all in this together...”