Drought, floods and plant closure hits Incitec Pivot

Chemicals, fertiliser and explosives manufacturer, Incitec Pivot (ASX: IPL) has reported big hits to its profits from a number of weather-related events and the closure of its Portland, Victoria super phosphate factory. The closure costs, along with drought in eastern Australia and cyclonic floods in the Townsville region, were outlined in a report to the…

Myriota demonstrates IoT for the battlefield

Internet of things (IoT) nanosatellite company, Myriota has demonstrated its low cost connectivity at an international military science event. The Adelaide company took part in the Contested Urban Environment 2018 (CUE18) challenge in Montreal along with the Australian government’s Defence Science and Technology (DST) group. The event, involving 250 scientists from Canada, New Zealand, the…

From tyranny of distance to centre of the global economy

For a century Australian businesses bemoaned the tyranny of distance that left us with poor prospects far from the world’s biggest markets. Today’s chart, from Visual Capitalist, brings home with a vengeance the newfound power of our location in the thick of the world’s fastest growing economies. In answers any questions you may have about…

Audit office raises doubts over maintenance of Navy ships

The Australian National Audit Office (ANAO) has delivered scathing criticism of Defence’s sustainment programme for some of the country’s most important naval assets. The office’s report found sustainment of the Royal Australian Navy’s fleet of eight ANZAC class frigates was not meeting most of its key performance indicators. The ANZACs service life has been extended…

Titomic enters Japanese and Korean markets

Metal additive manufacturing company, Titomic (ASX: TTT) has expanded its global distribution network for its unique metals and materials technology and manufacturing business. The company signed a memorandum of understanding with Osaka Titanium Technologies (OTC) and Marubeni Corporation to be its distributor in Japan and South Korea. The agreement also givers Titomic access to a…

Funds bring PhD skills to SME manufacturing

The Australian Mathematical Sciences Institute (AMSI) and the Innovative Manufacturing Cooperative Research Centre (IMCRC) have joined to reduce costs for SMEs accessing technology and digitilsation skills. The two will fund 23 skilled PhDs with manufacturing SMEs and larger companies to apply their specialist expertise to drive advanced and digital manufacturing and optimisation solutions. Industry partners…

Defence contracts to be further open to SMEs

The federal government has announced an updated Australian industry participation policy for 2019 which extends consideration for contracts to the smallest of SMEs. The policy, announced by defence industry minister, Linda Reynolds, introduces a new requirement for contractors to provide detailed commitments on how they will utilise and develop local SMEs. The new policy will…