Animal feed manufacturer Ridley Corporation has reported strong performance in FY22 as it emerged from the rationalisation of its Australian production sites and benefitted from its growth strategy and focus on efficiency. The company reported operating profit from ongoing operations up 16 percent to $80 million on revenue up 13 percent to $1.05 billion, navigating…
Ridley Corporation has completed its rationalisation and modernisation programme, opening its new $47 million feedmill at Wellsford, East Bendigo. The mill, capable of producing 350,000 tonnes of feeds annually, will supply poultry and pig farms in Central and Northern Victoria. In keeping with Covid-19 restrictions the opening was a virtual affair, with only the Mayor…
Animal feeds producer Ridley Corporation has commissioned its new poultry and pig feedmill at Wellsford near Bendigo in Victoria. All production has been successfully transferred from the former Bendigo mill to Wellsford, with the old site now closed and being readied for sale. The new feedmill has a capacity of 350,000 tonnes a year, with…
Diversified animal nutrition business Ridley Corporation was hit by drought conditions across eastern Australia during 2019 but reported steady earnings after a recovery late in the year. The company reported an operating EBITDA of $30.7 million for the first half of the year after providing $7.2 million for the closure of a feed mill at…
Ridley Corporation (ASX: RIC) has opened a new animal feed extrusion plant at Westbury in northern Tasmania. The plant, capable of producing 50,000 tonnes a ear of aquaculture and pet foods, is strategically located close to transport to supply the Australian mainland as well as the state. Ridley CEO, David Lord praised the high quality,…
GreenHy2 to provide hydrogen power generation, storage to Telstra Hydrogen energy storage manufacturer GreenHy2 has signed a Federal Government Grant to provide its Hy2MEDI generation and storage system to Telstra. The System, valued at $1.5 million, will be funded by the Australian Government from the Telecommunications Disaster Resilience Innovation (TDRI) Program, Power Resilience Round. GreenHy2…
Starpharma’s loss, strong financial position Biotechnology company Starpharma‘s loss narrowed during FY24 by 48 percent from $15.6 million to $8.2 million. Net cash outflow of $11.8 million was down $7.4 million from FY23 on revenue up 132 percent to $9.8 million. Revenue included a one-time $6.6 million cash payment from Mundipharma on termination of a…
Alpha HPA begins work on second stage battery metals plant Aluminium chemicals company Alpha HPA has begun site construction activities for Stage 2 of its $500 million high purity alumina battery metals precursor plant at Gladstone, Queensland with with earthworks activities now underway (pictured). The plant is capable of producing 10,000 tonnes of HPA equivalent…
Australia and US collaborate on ballistic missile interception Australia has supported the United States as it undertook a successful missile defence test off the coast of Hawaii. Royal Australian Navy and Royal Australian Air Force assets supported the test conducted by the US Missile Defense Agency (MDA) and the US Navy. The US test involved…
Orica the latest to create value from unused land Chemical and explosives business Orica has sold 66 hectares of unused industrial land at Deer Park in Melbourne to UniSuper for $260 million. The sale, stage 1 of a land sale process, netted a net profit after tax of $173 million for the Melbourne company. The…
