2020 Budget update confirms there will be no extra cash for manufacturers

Analysis by Peter Roberts Australia is not going to see any significant change in the focus of national policy for manufacturing nor any significant boost to federal attempts to grow the sector. This was abundantly clear in Josh Frydenberg’s 2020 budget update speech on Thursday, representing the federal government’s response to the Covid-19 pandemic. While…

Matrix Composites’ revenue hit sparks strategic review

Oil and gas industry composites manufacturer Matrix Composites has been hard hit by the Covid-19 pandemic, reporting subdued revenue in the latest financial year and sparking a strategic review of its businesses. The company, which supplies buoyancy systems for undersea gas and oil installations and pipelines (pictured below), reported unaudited fourth quarter revenue of $27.5…