GFG Alliance executive chairman Sanjeev Gupta said on Sunday that the Whyalla steelworks is generating between $13 million and $14 million in weekly turnover, with hopes of reaching break-even by mid-year. The announcement followed last week’s agreement with global creditors, ending a four-year process triggered by the collapse of GFG’s former financier, Greensill. The steelworks,…
Biome Australia announced its first net profit on Sunday, reporting $96,228 (excluding R&D rebate) for the first half of FY25, alongside record half-year sales revenue of $8.86 million. The microbiome health company reported positive EBITDA of $351,765 for H1 FY25, with Q2 showing an 89 per cent increase to $229,917 compared to Q1. Including R&D…
Volgren has announced its expansion into South Australia, with plans to establish a new facility in Adelaide. The bus body manufacturer, which currently employs 500 staff across facilities in Victoria, Queensland, Western Australia and New South Wales, said the expansion would create new jobs and strengthen local supply chains. The Adelaide facility will provide services…
BlueScope reported a net profit after tax of $179.1 million for the first half of FY2025, representing a $260.2 million decrease from the same period last year, according to a statement released on Monday. The Australian steel manufacturer delivered an underlying EBIT of $308.8 million, with Managing Director and CEO Mark Vassella describing it as…
Australian clean air technology company Sprintex is poised to make quite the impact on European agriculture, announcing a $6.3 million (€3.8M) purchase order for its compressor systems targeting ammonia emissions in the Netherlands. The deal, revealed in today’s ASX announcement, will see 200 Sprintex-Mest compressor units deployed across Dutch farms, marking a crucial step in…
Manufacturing innovation in Queensland is set for a significant boost with CSIRO rolling out a free training program for small and medium enterprises (SMEs). The eight-week “Innovate to Grow: Queensland” program is designed to transform bright ideas into research-ready projects, with a special focus on regional businesses. The program, part of the Queensland Government’s Regional…
Australia’s future as a frontrunner in global innovation hangs in the balance as R&D investments plummet, sounding alarms at the highest levels of government and industry. Industry and Science Minister Ed Husic (pictured), spurred by a concerning report led by Tesla Chair Robyn Denholm, is calling on the nation’s corporate giants to bolster their research…
In response to mounting pressures to settle substantial debts, the owners of Whyalla Steelworks, led by GFG Alliance’s chairman Sanjeev Gupta, are actively pursuing new financing solutions to sustain operations. This development follows intense scrutiny from South Australia’s Premier, Peter Malinauskas, who recently visited Whyalla to engage with creditors and reinforce the urgency of financial…
Victoria recorded the highest number of manufacturing insolvencies in Australia in 2024, according to new analysis. This rise in business closures highlights ongoing struggles within the state’s manufacturing sector, exacerbated by high taxes, rising energy costs and extensive regulatory burdens. ASIC data reveals that during the term of the Albanese government, 415 manufacturing firms in…
Brigadier Hugh Meggitt has been appointed as the new head of the Advanced Strategic Capabilities Accelerator (ASCA) for the Australian Defence Force, a move announced by the federal government on Tuesday. Brigadier Meggitt (pictured), previously the Director General Special Operations Modernisation at the ADF’s Headquarters Joint Operations Command, is recognised for his extensive experience in…