LAUNCESTON-based car part manufacturer ACL will close down by June next year with the loss of 136 jobs after a sales process was unsuccessful.
Receiver manager Matt Byrnes said staff had been briefed this morning.
"There will be an orderly wind down of operations with operations to cease by June 2014," Mr Byrnes said.
Receiver managers have been operating the company for four years since August 2009.
Mr Byrnes said entitlements would be paid by the Federal Government's General Entitlements and Redundancy Scheme.
He said there was a moratorium on redundancies until October 1.
The average length of service of employees was 20 years.
He said that the bearings company's customers would be approached and orders taken.
"We will continue to operate at near full capacity until early next year," he said.
ACL, which supplies critical components including engine bearings and gaskets to the automotive industry, exports about 75-80 per cent of its product.
He said there was no one single factor why the company failed although the strong currency and the location in Tasmania were factors.
Mr Byrnes said buyers had been genuine but could not consummate a deal.
The closure follows a series of disastrous job losses in Tasmania including Australian Weaving Mills, Rio Tinto and Bradken in recent weeks.
Tasmania already has Australia's unemployment rate at 8.1 per cent.
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