Manufacturing news briefs – stories you might have missed

Matrix Composites moves to loss in Covid year

Underwater systems composite manufacturer Matrix Composites & Engineering has plunged to an EBITDA loss of $4.4 million in FY 21 as disruption from the Covid-19 pandemic slashed sales to $17.6 million compared to the previous year’s $27.4 million. However the company reported final quarter revenue of $6 million as macroeconomic conditions improved and it continued its diversification efforts. As well as signs of recovery in its traditional oil and gas sector, Matrix saw increasing traction in its pivot to brownfields work in the resources sector.

Amaero International boosts titanium powder output

Materials and additive manufacturing manufacturer Amaero International has confirmed yields from its proposed metal powder manufacturing plant are are better than expected, boosting expected output from its titanium manufacturing facility. The company increased its estimate of the revenue capacity to $40.8 million once fully operational, a $10 million increase. Amaero was established with the support of Monash University and manufactured 3D printers as well as creating specialist alloy powders for clients.

Wellnex Life secures distribution in Coles

Health and wellness products manufacturer Wellnex Life will range its new Wakey Wakey and The Iron Company brands (pictured) in Coles stores nationally. Currently the products are sold widely through pharmacies. Wakey Wakey provides an energy boost in gummy and effervescent form. The Iron Company developed slow release Iron Gummy with Vitamin C.

First Graphene’s loss in restructuring year

New materials developer First Graphene plans to rapidly grow its sales portfolio following a year in which it restructured the business and introduced strict cost control. The company reported an operating loss of $6.285 million and non recurring restructuring costs of $1.2 million in FY21. Sales revenue was $342,000, 18 per cent up on the previous year. First Graphene said a sales improvement in the fourth quarter had set a sound base for this financial year. During the year the company cut staff, reduced expenditure on consultants and changed its ERP system, reducing production cost by 50 per cent.

Picture: Wellnex Life

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