Mining equipment manufacturer Austin Engineering has received orders for more than 100 large pieces of equipment valued at more than $35 million ‘in the past few weeks’.
The Queensland company told investors the orders included truck bodies, water tanks and buckets, confirming profit forecasts of more than $9 million for the year.
Notable orders include:
Austin, which makes customised dump truck bodies, buckets, water tanks, tyre handlers and products utilised in the mining industry, has confirmed orders in excess of 70 per cent of revenues forecast for the year.
Austin managing director Peter Forsyth told investors: “The Asia-Pacific region is performing exceptionally well with a strong line of sight to keeping our two large facilities in Perth and Indonesia close to capacity.
“As a result of several macro factors, the economic environment in North and South America is less supportive than contemplated…impacting Austin’s order flow in these regions.”
Covid is affecting investment decisions in these regions, however Austin is quoting on a large number of potential orders in the US.
Picture: Austin Engineering
Subscribe to our free @AuManufacturing newsletter here.