Opposition leader Anthony Albanese will up the ante in the debate about the future of manufacturing, promising to establish a $15 billion reconstruction fund should it be returned at the next election. This comes mid-way through the rollout of the federal government’s manufacturing modernisation initiative – a tenth the value of Labor’s promise. At the…
Metal additive manufacturing company Titomic has teamed up with a Turkish supplier of manufacturing systems to establish gun barrel production in Australia. Titomic and Repkon Machine and Tool Industry and Trade Inc have formed a joint venture to build a production facility in Australia at an un-named location. It will manufacture ‘weapons systems barrels’ designed…
Leading wine producer Treasury Wine Estates, the maker of Penfolds wines, has lost its anti-dumping case brought by the Chinese government which has confirmed crippling import duties will apply to the company. The Chinese ministry of commerce issued a final determination in its anti-dumping and countervailing investigations into Australian wine exports to China, including Treasury.…
Perth international shipbuilder Austal Limited, best known for its aluminium vessels, has broken ground on a new steel shipbuilding facility alongside its naval shipyard in Mobile, Alabama. Funded through a loan from the US Department of Defence of US$50 million matched by company funds, the $131 million facility will prepare Austal to compete for new…
By Peter Roberts ASC which built and sustains Australia’s Collins Class submarines in Adelaide has embarked on an ambitious project to fully digitise its shipyard operations. It is not clear whether the investment in Adelaide and Perth will put an end end speculation that further major Collins sustainment work could be shifted to Western Australia.…
By Peter Roberts A patch of dirt in Dubbo, NSW and a lot of hard work are starting to pay off as a second Australian rare earths producer becomes a reality in the form of Australian Strategic Materials. In the past week ASM received firm commitments from sophisticated investors to raise $65 million to kick-start…
SEA Electric buys big in batteries to cut costs Truck and van electric vehicle drive train manufacturer SEA Electric has put in a massive order from Soundon New Energy Technology for 1,000 EV battery sets. Soundon has been supplying SEA Electric since 2012, with the new purchase cutting kilowatt hour costs by 36 per cent.…
CSIRO-backed non-animal based foods business Nourish Ingredients has raised $14.5 million (US$11 million) in seed funding to accelerate commercialsation of its animal-free fermented fats and oils. CEO James Petrie said the company has secured an initial funding round co-led by leading venture capitalists Horizons Ventures and Main Sequence Ventures. Main Sequence is the venture arm…
Six Australian small businesses have shared in more than $1.3 million in federal government grants designed to boost their export potential. Defence industry Melissa Price today announced the latest recipients of grants under the Defence Global Competitiveness Grant Program. Price said: “We are helping businesses around the country to upgrade their manufacturing processes and equipment…
A strong performance in its property portfolio and investments, and a recovering Australian economy has held up Brickworks profits in the first half of the 2021 financial year. The company reported net profit after tax up 22 per cent to $71 million for the six months. However, underlying earnings before interest and tax (EBIT) was…