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Over $95 million flood-related losses forces factory to lay off staff

Posted On: Sep. 16, 2022 9:46 AM CST

Flood risk

Australian dairy company Norco Co-operative Ltd. is planning to terminate 170 workers after its factory in Lismore, New South Wales, suffered an estimated loss of $142 million Australian ($96 million) from the catastrophic flooding earlier this year, Perth Now reported citing The co-operative has already received over AUD40 million in government grants to recover from the flood losses.