Metal additive manufacturing specialist Amaero International has announced both a purchase order from Boeing and a raising to support this.
The ASX-listed company, which has facilities in Melbourne and California, announced the order from Boeing on metal evaluation parts. These will be developed and produced at Amaero’s two sites.
CEO Barrie Finnin said the news “confirms and strengthens” Amaero’s strategic direction.
“The purpose of Boeing’s Global Supply Chain program is to provide access to companies like Amaero to identify opportunities to support global programs within Boeing,” he said.
“We have worked closely with Boeing’s Global Supply Chain people to unearth a multitude of opportunities within several Boeing programs for Amaero to supply prototypes and production.
“We look forward to working on the evaluation parts in our facilities in Melbourne and El Segundo and continuing to build our relationship.”
The Australian Financial Review reports that Amaero has enlisted PAC Partners’ help for a $5 million placement and a $3 million share purchase, priced at 55 cents a share. This would cover costs including new equipment, capital expenses, R&D and working capital.
Amaero supplies aerospace, defence and automotive markets. Recent announcements have included R&D on conformal cooling channels for tooling with CSIRO, and prototyping with SMR on automotive components and Gilmour Space on rocket engine parts.
Amaero was established as a Monash University spinout, and listed on the ASX late-last year.
Picture: Amaero International
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