Manufacturing News

Best of the week — the five most popular stories among readers, November 6 – 10, 2023

Manufacturing News

What were the five biggest stories of the week? Here’s what visitors to this site were reading.

1) Brisbane’s Tritium to move production to US

NASDAQ-listed electric vehicle charger manufacturer Tritium has ended speculation about the future of its Brisbane factory and announced that it will move production to Lebanon, Tennessee, in a bid to break even.

In a statement this week, Tritium said it would be “consolidating its global manufacturing operations into its scaled plant in Lebanon,” as well as reducing expenses through headcount.

“These changes reduce our capital requirements and hasten the timing of the company becoming EBITDA positive,” said CEO Jane Hunter in a statement on Tuesday.

2) Carbon Revolution lives on, cupboard bare for Australian investors

Shares in carbon fibre road wheel manufacturer Carbon Revolution disappeared from the ASX this week as the company’s shares began trading on the US NASDAQ exchange as Carbon Revolution Inc.

The US listing was the culmination of a drawn out fight for survival which will see the company continue to manufacture at its Geelong, Victoria facility but which sees the company pass into new hands and leave little to show Australian shareholders.

Survival for the company involved a business combination with New York listed Twin Ridge Capital Acquisition Corporation, with the shares trading under the CREV symbol at an opening price of US$7.45 and closing at US$29.32. on Friday.

3) $3.6 million backs defence industry capabilities

Ten Australian manufacturers will share more than $3.6 million to develop cutting-edge defence capabilities and boost exports in the latest round of Defence grants.

The payments include more than $800,000 to a New South Wales company producing hard armour for military personnel, $585,000 to a South Australian manufacturer to develop a large-scale environmental test chamber and more than $290,000 to a Victorian business to manufacture air brake fittings for Defence vehicles.

More than 220 Australian businesses have already benefitted from almost $97 million awarded through the Defence Global Competitiveness and Sovereign Industrial Capability Priority programmes which provide 50 per cent matching grants so companies can boost manufacturing, harness their expertise and increase jobs.

4) Bushfire resistant undercoat paint goes on sale

A new Australian-developed fire-retardant paint now on sale has become the first to pass a stringent Australian standard test that simulates a bushfire attack.

The FSA FIRECOAT paint, on sale at selected Bunnings stores, achieved the Bushfire Attack Level (BAL) 40 standard which assesses the bushfire resistance of buildings and construction materials.

BAL-40 indicates that a building or material has been tested and approved to withstand higher levels of radiant heat (up to 40kW/m²) and ember attack during a bushfire, and therefore provides increased protection against bushfires in areas prone to extreme fire conditions.

5) From oily idea to global force in 25 years

Homer called olive oil liquid gold, but to one Australian company its qualities have morphed an idea into an emerging global force in an age old and seemingly unchanging industry in only 25 years, writes Peter Roberts.

When horticulturalists Rob McGavin and Paul Riordan planted an initial 200 hectares of olives in 1998 it is hard to imagine that could see their business challenging the world order in the same way as did Australian wines.

At the company’s recent annual general meeting Chairman Rob McGavin looked back over the business founded: “From humble beginnings, Cobram Estate Olives (CBO) is now recognised as a global leader in all aspects of the olive industry, from growing and milling, research and marketing.

Picture: credit Tritium

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