Automotive, aerospace and defence manufacturer PWR Holdings has reported a Net Profit After Tax (NPAT) of $24.8 million for the year ended 30 June 2024 on revenue up 17.8 percent to $139.4 million. The company, best known for the manufacture of specialist radiators for F1 cars, reported EBITDA of $45.2 million and an operating cash…
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The NSW government has announced $2.3 million in funding for the Industry Capability Network — which celebrated its 40th anniversary this week — which ICN says will help grow its presence in Western Sydney and regional NSW. The nation-wide ICN acts as an intermediary between suppliers and major projects, and by its own count has…
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The three AUKUS nations Australia, the UK and the US have established an export licence-free environment, opening up investment and export opportunities for industry. Defence Minister Richard Marles first raised the possibility of removing barriers to procurement, investment, information and data sharing systems, and export requirements with the government in 2022, and described today’s announcement…
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On Wednesday the Industry Capability Network released a study by University of Sydney’s Phillip Toner and UTS Emeritus Professor Roy Green which recommended it should be mandatory for project proponents to work with the service which connects businesses to opportunities. Here @AuManufacturing talked to Professor Roy Green. @AuManufacturing: The ICN has been in operation for…
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Drone logistics company Blueflite is to develop tanks for storage of hydrogen fuels for unmanned aerial vehicles (UAVs) through a collaborative project supported by the NT government. Blueflite will open Darwin premises and plans to to develop a lightweight, high-pressure, hydrogen vessel (tank) using Advanced Fiber Placement (AFP) technology pitched at the long-range, UAV sector.…
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The first from an order of 23 new VLocity trains, made in Victoria by Alstom for the state’s regional V/Line services, has begun transporting passengers. According to a statement from public transport minister Gabrielle Williams on Thursday, the train is numbered 119 and the first from the order, worth a total of $601 million and…
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The maker of Penfolds, Treasury Wine Estates is focused on the re-establishment of its Penfolds Australian portfolio in China following the removal of tariffs. As part of FY24 results the company told investors that it immediately began re-establishment in the fourth quarter, with strong shipment demand from customers and initial depletions in line with expectations.…
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Hearing implant manufacturer Cochlear has reported sales revenue up 15 percent to $2.3 billion for FY24, with growth across all business units. Cochlear implant units increased nine percent with strong growth across the developed markets, while services revenue increased 15 percent driven by strong upgrade demand for the Cochlear Nucleus 8 Sound Processor (pictured). Statutory…
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Rio Tinto’s Boyne Island smelter in Queensland will operate into the 2040s following a partnership with the state government that will see the smelter supplied with renewable energy by the state’s government owned generators. The agreement safeguards 1,000 jobs and ensure the continuing manufacture of carbon anodes, aluminium production, and casting of 295,000 tonnes of…
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ASX-listed semiconductor developer and manufacturer BluGlass has announced a one-day Semiconductor Australia Conference 2024 in October. In a statement on Thursday, Bluglass said it has partnered with the Semiconductor Sector Service Bureau (S3B), and ShareCafe on the event, to be held at Deloitte’s premises in Sydney’s Quay Quarter Tower on October 24.. It will feature…
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