Perth mining equipment manufacturer Austin Engineering has received a US$20 million grant and loan package which will support the rebuilding and expansion of its US production facility at Casper, Wyoming.
Together with a further US5 million investment by the company, the new facility will be its biggest-ever expansion and follows investment in facilities in Perth, Batam, Indonesia and Indonesia plants.
The company announced today that the $15 million grant and $5 million loan comes from the City of Mills, Wyoming and the Wyoming Business Council, with Austin gifting surplus land to the city in return to be used for community purposes.
The City of Mills will build the facility to Austin’s requirements and lease it to the company, while the loan is repayable at a fixed interest rate of two percent.
Austin CEO and Managing Director David Singleton said North Americas was the company’s strongest performing business unit, with the Casper facility the hub of the company’s operations since 1938.
Singleton said: “North America’s FY23 revenues were up 13 percent year on year.
“We had recently taken a short term lease on a facility to meet increased orders in the region. A larger, permanent facility would enable Austin to increase out further in line with expected growth.”
The facility will be capable of building Austin’s large mining truck bodies as well as mining buckets and other equipment.
“The determination to improve mining efficiency in North America has seen a strong growth in demand for trays and buckets, particularly in recent years, and is expected to continue.”
Picture: Austin Engineering