ANCA to boost precision manufacturing capability

Machine tool manufacturer ANCA will establish a precision manufacturing cell at its Bayswater, Melbourne headquarters, using a grant delivered through the federal government’s Modern Manufacturing Initiative.

ANCA is a major exporter of complex manufactures, supplying advanced tool-making machines and technology to aerospace, medical, automotive and electronic industries in more than 45 countries.

Assistant Minister for Manufacturing Tim Ayres today announced a $3 million grant to the company supporting manufacturing capability and creating around 300 jobs.

Ayres said: “Over the last decade, Australian exports have slipped down the global value chain as our exports have become less complex.

“This grant will enable ANCA to build a new designated precision manufacturing cell and continue enhancing Australia’s sovereign manufacturing capabilities.

“It will also create an estimated 157 highly skilled jobs during the project and about 330 jobs after five years.”

The federal government has followed up the MMI initiative with a commitment of $15 billion to establish the National Reconstruction Fund, which will support, diversify and transform Australia’s industry and economy.

Modelled on the successful Clean Energy Finance Corporation, it will be governed by an independent board who will make independent investment decisions.

The Government is targeting $1 billion of the National Reconstruction Fund for investments in advanced manufacturing.

Ayres said: “The National Reconstruction Fund is one of the biggest investments in Australian manufacturing capability in living memory.

“The Fund will help secure our long-term capability and drive sustainable economic growth by leveraging Australia’s competitive strengths.”

Picture: ANCA