The Deputy Prime Minister and Minister for Defence Richard Marles has opened the $170 million Hanwha Armoured Vehicle Centre of Excellence (H-ACE). Located at the Avalon Airport Precinct in Victoria, the facility will manufacture the Huntsman and Redback families of armoured vehicles. Space is provided for suppliers to locate on site to make vehicles for…
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Starpharma’s loss, strong financial position Biotechnology company Starpharma‘s loss narrowed during FY24 by 48 percent from $15.6 million to $8.2 million. Net cash outflow of $11.8 million was down $7.4 million from FY23 on revenue up 132 percent to $9.8 million. Revenue included a one-time $6.6 million cash payment from Mundipharma on termination of a…
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Regional manufacturers are more positive about their future than those in the city and setting the benchmark for industry sustainability, according to a new CommBank report.
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In-space electric propulsion developer Neumann Space has successfully tested in orbit its Neumann Drive electric propulsion system based on solid metal propellants. Neumann and the University of Melbourne announced the drive and a number of other local technologies that had been integrated onto the SpIRIT nanosatellite had been successfully tested. The Space Industry Responsive Intelligent…
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New cyber threat intelligence reports have labelled manufacturing as the most targeted industry for cyber threats.
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Food producer and manufacturer Ingham’s Group has reported an EBITDA of $471.1 million for FY24 up 12.6 percent on FY23 as it focused on acquisitions and capability, capacity and network resilience. NPAT was up 68 percent to $101.5 million on revenue up 7.2 percent over the previous corresponding period to $3.3 billion. Inghams CEO and…
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Royal Australian Navy and Australian industry staff are set to begin maintenance work on the first US nuclear powered submarine to be docked in Perth as part of the AUKUS partnership. They will work on US Virginia class submarine USS Hawaii alongside US counterparts in a Submarine Tendered Maintenance Period (STMP) at HMAS Stirling in…
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Bills to establish a Net Zero Economy Authority and Net Zero Economy Agency to guide industry and the economy’s transition to net zero emissions have passed the Senate and will soon be signed into law. The Bill establishes a new independent statutory authority to promote orderly and positive economic transformation as the world decarbonises. Billed…
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Gold Coast based ship design group Seatransport and a Brisbane based technology company are developing nuclear solutions for the propulsion of strategic and disaster response vessels in remote areas. The technology company has not been named, preferring to remain in stealth mode, however they are collaborating to utilise Using Micro Modular Reactor (MMR) technology of…
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Australia’s Group of Eight major universities has issued a decadal roadmap to return the nation to a necessary 3% of GDP devoted to R&D. (Download @AuManufacturing’s Towards 3% R&D e-book here) Here Dr Philip Chindamo proposes actions to boost business R&D. A thriving, innovative, and internationally competitive economy is essential to maintain our standard of…
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