Carbon Revolution signs contract with unnamed SUV company

Geelong-based one-piece carbon fibre wheel manufacturer Carbon Revolution has announced a contract with an unnamed global maker of sport utility vehicles (SUVs).   CEO Jake Dingle said the deal meant there were now five global automotive manufacturers using his company’s high-performance wheels.    “SUVs represent a very important new segment of the market for Carbon…

Admedus sells cardio business for $36 million

Cardiovascular device manufacturer Admedus (ASX: AHZ) has sold the distribution rights to its CardioCel and VascuCel product range for $A36.2 million to LeMaitre Vascular Inc. The company, whose ADAPT engineering process produces implantable tissue bio-scaffolds for a range of cardiovascular and vascular applications, will receive $22.8 million in an upfront payment. the remainder will flow…

VEEM weathers choppy seas to make good progress

Perth marine engineering group VEEM has grown profits in the latest financial year despite the cyclical nature of some of its big ticket defence contracts. The company, which manufacturers ships propellers, drive shafts and stabilising gyro systems, recorded net profit after tax of $2.76 million in 2019, up $500,000, on turnover of $40.7 million. EBITDA…

Manufacturing decline leaves Australia in the third world of exporters

Analysis by Peter Roberts It is now official. Australia now has the economic diversity and export profile of a typical third world nation. Our antipathy to value-adding activities such as manufacturing in favour of industries that require little more than digging it up and shipping it out, has left us dangerously dependent on quarrying. According…

FBR to use robotics to build revolutionary new homes

Robotic technology venture Fastbrick is to build its first new homes using the Hadrian X bricklaying robot under a commercial deal with Summit Homes Group. Fastbrick, a joint venture between technology developer FBR (ASX: FBR) and brick manufacturer Brickworks (ASX: BKW), will commence a three-stage pilot building programme for the builder. It is the first…