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…
Pharmaceutical developer Starpharma has secured United Kingdom distribution for its Viraleze antiviral nasal spray. The Melbourne company has signed a sales and distribution agreement with LloydsPharmacy which operates 1,400 pharmacy stores in the UK and is part of international pharma distributor group McKesson. McKesson supplies more than 14,000 pharmacies across the UK. Viraleze spray, which…
Southern Launch has become the first company to be granted a rocket launch facility licence by the federal government, opening the way for commercial sub-orbital launches from its Koonibba Test Range in regional South Australia (pictured). Industry minister Karen Andrews said today ensuring a regulatory framework that balances safety and entrepreneurism is crucial to growing…
The disused open cut Kidston gold mine in Queensland is to be repurposed into a massive pumped hydro electricity storage system. The Australian Reneawable Energy Agency (ARENA) has announced $47 million in funding for Genex to construct a pumped hydro system to store energy from a 50 MW solar farm that is already operating and…
Analysis by Peter Roberts It seems the federal government push to involve our typical SME manufacturers with major defence projects is paying off in all sorts of unexpected ways. Australia has been quietly progressing research into flight at hypersonic speeds – faster than five times the speed of sound – for decades. It is the…
Automation system builder Andrew Donald Design Engineering have shipped the second of three specialist inspection machines (pictured) to a US manufacturer building systems to accelerate the delivery of COVID-19 vaccines. Part of the US Trump administration’s Operation Warp Speed program, the systems are designed to overcome significant constraints in the supply and filling of vials…
Quickstep unsuccessful in flare housing manufacturing bid Composites manufacturer Quickstep Holdings has been informed its bid to manufacture MJU-6B flare housing for the F-35 Lightning II Joint Strike Fighter for Chemring in the next two financial years has been unsuccessful. Quickstep said the grounds for Chemring’s decision are contestable, with the company initiating a formal…
AGL has today announced construction will get underway this year on its planned nationwide network of grid-scale storage batteries. The company announced a start to a 250-megawatt (MW), one-hour duration grid-scale battery at Torrens Island power station in Adelaide (pictured), following AGL’s final investment decision (FID) on the project. AGL CEO Brett Redman said South…
Cairns marine engineers Tropical Reef Shipyards and BME NQ will build seven new watercraft to strengthen the Australian Army’s amphibious capability. The 7.5 metre vessels will be built in Cairns under a $4 million contract. The two companies will also provide spares and trailers, as well as operator and maintainer training. Founded in 1977, Tropical…
Air Liquide is to build and operate a new CO2 purification and production plant to supply industry in Gippsland Victoria. The company has come to an agreement with the Gippsland Basin Joint Venture, made up of BHP and Esso, to build the facility alongside the Longford Gas Conditioning plant which processes Bass Strait’s oil and…
