From cars to confectionery: Australia's manufacturers revamp business

SYDNEY (Oct 10): For autoparts maker Brian Hughes, the shock of Australia's car industry closing down could have meant the end of his business. Instead, he reconfigured his facility to make machinery for the booming food and building sectors while bolstering exports.

He's not alone. As Toyota Industries Corp, General Motors, Ford Motor and others shutter car manufacturing in Australia, one in every two auto suppliers in Victoria - the country's auto hub - are reinventing themselves.

This agility is what the Reserve Bank of Australia (RBA) says is helping the economy's long-awaited transition away from mining. The RBA is counting on a stronger pick-up in private investment after cutting its cash rate twice this year to a record low of 1.50%.

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