Amaero revamps leadership, dumps planned Victorian factory

Additive manufacturing manufacturer Amaero International has revamped its senior leadership team and dumped plans to build a titanium powder manufacturing facility in Victoria.

The company did not give a reason for dumping the plant, except to say that it was the outcome of a strategic review, now completed.

As recently as June this year Amaero reported that the Melbourne plant was on-schedule for production-readiness by the end of the year.

It said then that the plant was nearing completion at its engineering partner and would be put through an operational hot test in coming weeks, followed by disassembly and shipping to Melbourne for re-installation.

Amaero announced that it would build a strategic alloy atomisation plant in July the previous year, with plans to invest $8 million at its Melbourne site to produce aerospace-grade powders.

However, while the strategic review found that the company’s core focus was titanium powder production, the plant will not open in Melbourne, with a new location likely in the Middle East.

This comes as the company announced managing partner of US private equity firm Pegasus Growth Capital, Hank Holland had been appointed executive chairman – he is currently a non-executive director. David Hanna steps down as chairman.

According to a statement from Amaero: “The board has completed its strategic review and has decided not to proceed with the titanium powder manufacturing facility in Victoria.

“As a result, it is no longer anticipated that Amaero will become cash flow positive in CY2023.

“The board is taking active steps to pursue alternative opportunities for titanium powder production and Mr Holland has been in the Middle East for the past four weeks exploring a number of opportunities.”

Amaero said its projects with Fletcher Insulation and Boeing would continue.

More reading:
UPCOMING MELBOURNE TITANIUM POWDER FACTORY ON TRACK: AMAERO

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