Perth mining equipment manufacturer Austin Engineering has maintained strong growth in its order book as it continues to ride a resurgent mining sector.
Reporting the outcome of a massive order it foreshadowed in May, the company said the orders had been conformed, plus 25 percent in additional orders bringing the deal with a single buyer to a value of $25 million.
The manufacturer of mine dump truck trays (pictured), buckets and other equipment has delivered 10 days ago, with the remainder on schedule to be built at its sites at Henderson, Western Australia and Batam, Indonesia.
Austin’s overall order book is up 21 percent year on year to $146 million, and more than double the same time two years ago.
Austin CEO and Managing Director David Singleton said the additional orders had driven an improved revenue outlook.
Net debt for the full FY23 year is expected to be $16 million, a figure which will fall as deliveries are made.
Singleton said: “Our recently expanded Batam manufacturing centre continues to provide extra capacity and flexibility we need in our business.
“With deliveries now scheduled across the world including US, Australia, Europe and India, we are expecting a strong performance from our Batam operations in FY24.”
Celebrating Australian Made – leadership and Austin Engineering
Picture: Austin Engineering/the first three dump trucks have been delivered to a WA customer