The Whyalla steelworks was losing $1.5 million per day before being forced into administration, burning through nearly $320 million in seven months, administrators KordaMentha revealed at a creditors meeting on Monday. The administrators outlined total debts exceeding $1.34 billion, including $189 million in outstanding employee entitlements and $40.2 million owed to the South Australian government…
The federal government has said it will develop a new national food security strategy titled “Feeding Australia” if re-elected, aimed at increasing “the security and supply chain resilience” of both agriculture and food production. According to a statement from agriculture minister Julie Collins (pictured) on Tuesday, Australia produces enough food “to feed more than twice…
A free, day-long Western Sydney Manufacturers event will be held at Penrith on April 2, hosted by the NSW Smart Sensing Network (NSSN) and the NSW Decarbonisation Innovation Hub. According to a statement from NSSN on Tuesday, the forum is titled Western Sydney Manufacturers: Building profits on the path to sustainability, and aims to help…
Highly experienced public servant Dr Paul Grimes has been appointed the new CEO at the Australian Trade and Investment Commission (Austrade.) Grimes moves into the role following previous CEO Xavier Simonet and Acting CEO Daniel Boyer. According to a statement from trade minister Don Farrell on Monday, the trade commission plays a critical role in…
Avecho Biotechnology signed an exclusive ten-year development and licensing agreement with Sandoz for the commercial rights to its cannabidiol (CBD) insomnia treatment in Australia, according to an ASX announcement released on Monday. The deal includes an upfront payment of US$3 million (approximately A$4.8 million) and potential development milestone payments totalling US$16 million prior to commercialisation.…
Your old T-shirts and jeans might soon get a glamorous second life, as plastic recycler Pact Group and clean technology company BlockTexx joined forces on Friday to tackle Australia’s growing mountain of discarded clothing. The companies signed a memorandum of understanding to explore an end-to-end rescue mission for unloved polyester and cotton-blend garments. Instead of…
Swinburne University of Technology and the Indian Institute of Technology Hyderabad (IITH) launched a joint research institute to tackle global technology challenges, according to an announcement from the universities. The Swinburne-IITH Manufacturing, Materials, Energy and Communication Technologies (SIMMECT) Joint Research Institute will focus on three primary areas: advanced materials and manufacturing, energy transition solutions, and…
Plant-based food manufacturer Forbidden Foods has reported sales of $577,857 for the first two months of the calendar year, a 147 per cent increase on the corresponding period in 2024, as the company beds down its acquisition of Oat Milk Goodness (OMG) last September. In a statement on Monday, the ASX-listed company said the news…
By Ehsan Noroozinejad, Western Sydney University Australia is in the grip of a severe housing shortage. Many people are finding it extremely difficult to find a place to live in the face of rising rents and property price surges. Homelessness is rising sharply. Tent cities are becoming more common. The federal government has pledged to…
This week in our Australia’s 50 Most Innovative Manufacturers series, we hear from Dr Chris Jeffery, CEO of Convergence Medical Robotics. The third-time founder shares some lessons learned from running successful companies; how to build the right culture, especially at the early stage; and how you can move fast while doing difficult things. By Brent…