Manufacturing news briefs — stories you might have missed

H2X Global partners with Norwegian Hydrogen 

Australian-headquartered hydrogen fuel cell vehicle manufacturer H2X Global announced the signing of a memorandum of understanding (MoU) last week with Norwegian Hydrogen, a green hydrogen production, distribution and refueling company. according to a statement from the pair, it will cover collaboration on commercial supply of hydrogen and a range of hydrogen fuel cell commercial vehicles, focus on the Nordic region, and will see the companies develop a joint commercial and operational framework for commercial fleet operators located near Norwegian Hydrogen’s sites.

Titomic raises new cash from investors

Metal additive manufacturing technology company Titomic has received commitments from new and existing shareholders to raise $5.1 million. The cash will be raised via a share placement at 0.16 cents a share – on Friday Titomic shared closed up 3.7 percent to 0.14 cents. A $2.2 million ‘strategic investment’ has been received from Turkish machine tool manufacturer Repkon ve Kalip.

Austal posts rising sales, operating loss

Shipbuilder Austal has plunged into the red with an EBIT loss of $2 million for the first half year, down from a profit of $70.1 million in the previous corresponding period. revenues were up from $722.4 million to $775 million, driven by strong revenues from the company’s ship sustainment businesses. The loss came about with the full recognition of a loss provision from the company’s construction of Towing, Salvage and Rescue Ships (T-ATS) for the US Navy. The company said it was poised for growth with the award of an Offshore Patrol Cutter contract worth up to $4.4 billion in the US, progress in constructing steel hulled vessels and successful delivery of its first large autonomous vessel (pictured). Guidance of FY2023 EBIT of $58 million was maintained.

Aristocrat prepares for cashless pokies

Poker machine manufacturer Aristocrat Leisure is continuing its investment in more responsible gaming (RG), including developing the technology for cashless poker machines. Money laundering and problem gambling have made pokies more problematic, with political parties in NSW pledging to reform the sector. Aristocrat CEO Trevor Croker told the company’s annual general meeting that the company launched an Australian-first trial of cashless gaming in New South Wales as well as continuing a rollout of its Flexipay payment functionality. “This progress builds on years of investment in RG product innovation…We share the community’s legitimate concern about the impacts of excessive gameplay on individuals and families.”

IDT Australia restructures for future opportunities

Drug manufacturer IDT Australia has restructured its board and management as it prepares itself for new growth opportunities. The Melbourne company told investors it was expanding into sterile injectable manufacturing and increasing its focus on oral medicines. It was also prepared for growth in medicinal cannabis production, offering extraction and formulation services, and had the necessary licenses to supply psychedelic medicines. The Therapeutic Goods Administration has down scheduled psychedelics for the treatment of resistant depression and post-traumatic stress disorders. IDT also expects the TGA to grant an operating license for its sterile facility in the third quarter, following a follow up inspection.

Bisalloy boosts volumes as steel prices decline

Wear resistant and armour steel manufacturer Bisalloy has posted a strong sales growth in the first half year, however profits were flat as steel prices declined from historically high levels and sea freight rates rose. The Unanderra, NSW company reported operating EBITDA down 1.1 percent to $12.4 million on revenue up 42.1 percent to $78.4 million. The company described the result as pleasing, given normalisation of profit margins as prices trended downwards. During the half the company bookes redundancy payments with a voluntary redundancy programme underway and a ‘challenging ocean freight’ market. Bisalloy sources raw steel mainly from neighbouring BlueScope Steel in Wollongong, but also from Nippon Steel and from its Chinese joint venture Bisalloy Shangang (Shandong) Steel Plate Co Ltd. Bisalloy also has operations in Thailand and Indonesia.

BAE Systems Australia to employ 6,500

BAE Systems Australia to recruit 6,500 is aiming to recruit 6,500 people over the next five years and will be kicking off a national recruitment drive at the Avalon air show next week. The company, which is constructing Hunter class frigates and updating the JORN over the horizon radar among numerous defence contracts, is inviting university students, veterans and their families attending Avalon 2023 to learn more about job opportunities on offer. BAE Systems Australia Chief People Officer Angela Wiggins said: “It’s vital for the future success of our business that we have the right skills to deliver critical capabilities to our customers and that’s why we’re continuing to invest to secure the best talent.” More than 10 percent of employees in the Company’s Australian workforce have served in the armed forces or continue to serve as Reservists.

University Opens CDU TAFE

The Northern Territory’s Charles Darwin University (CDU) has launched “CDU TAFE” which it describes as a dedicated TAFE area focussing on future growth and job opportunities in the NT, and a “more focused and streamlined structure” compared to CDU’s previous Vocational Education and Training (VET) model. CDU TAFE will continue to offer its range of training courses, with no impact on current students, and will “expand its course offering to reflect the changing face of the Northern Territory’s skilled workforce needs.” Vice-Chancellor Professor Scott Bowman said the changing nature and role of vocational education and training to support industry and the need to position our university for the future were behind the move.

Picture: Austal/Expeditionary Fast Transport USNS Apalachicola – capable of autonomous operation