Brisbane DC fast electric vehicle manufacturer Tritium DCFC has set a new production record and with continuing expansion of its US factory the company now claims to have the largest charger production plans of any company outside China. The company set a new production record, with preliminary results from January 1, 2023 to April 30,…
Poker machine manufacturer Ainsworth Game Technology has continued its strong growth in the first half, CY 23 out of the profit and sales slump that accompanied the Covid pandemic. In a trading update the Sydney manufacturer and online games developer said it expected a profit before tax, excluding currency and one-off items, of approximately $20…
LED stadium lighting manufacturer VALO has announced that it is to change its name and rebrand to VAILO as part of its expansion internationally. Chief Executive and founder Aaron Hickmann has just returned from the United States to scope VAILO’s first export project returning with a new vision to become a global leader in ultra-high-performance…
The Australian National Audit Office has issued a report critical of the acquisition of nine Hunter class frigates now under construction at the Osborne naval shipyard in Adelaide. These are the ANAOs’s conclusions in full of its review of the $35 billion acquisition by the Department of Defence: The Department of Defence’s management to date…
Explosives and mining technology group Orica is riding a wave of high commodity prices boosting customers fortunes to notch up a 32 percent rise in half year underlying operating profit of $323 million. The result, which yielded a net profit after tax of $123 million in the half year ended 31 March, came after a…
Australia’s trade minister Don Farrell predicts that China could lift its punitive trade restrictions on $20 billion worth of Australian exports by the end of the year, according to reports in Channel 9 newspapers. On the eve of his departure to China for the first meeting of trade ministers since 2019, Farrell told the newspapers…
The Federal Government’s $15 billion National Reconstruction Fund (NRF) should be designed to reduce hurdles and ease access for Australia’s predominantly small and medium sized manufacturing enterprises, according to the Geelong Manufacturing Council. In a submission to the Government’s NRF, GMC called for the establishment of a decentralised team of business advisers to support SMEs…
Building products group CSR has delivered strong profit and revenue growth in the financial year to 31 March. The company announced net profit after tax of $225 million, up 17 percent on the previous corresponding period, on trading revenue up 13 percent to $2.6 billion. The company’s building products segment earnings before interest and tax…
The Australian Renewable Energy Agency (ARENA) has welcomed new funding in the budget to deliver the Industrial Transformation Stream of the government’s Powering the Regions Fund. As part of the $1.9 billion Powering the Regions Fund package, the government announced the $400 million Industrial Transformation Stream to support industrial facilities across Australia to reduce their…
Companies, industry groups and experts comment on last night’s Budget 2023 – this is what they said. Green technology developer Fortescue Future Industries welcomed the budget’s Hydrogen Headstart announcement which ‘demonstrates how seriously the government is taking the green hydrogen industry’ and its critical role in Australia’s future. FFI said in a statement: “This is…
