Manufacturing news briefs — stories you might have missed

Changes made to Austal’s board

Perth shipbuilder Austal has announced two changes to its Board of Directors. After serving six years as a non-independent director, Chris Indermaur will not seek re-election at Austal’s upcoming AGM and will retire. Austal has appointed experienced international finance executive and board member Brent Cubis as a non-executive director (NED). Cubis has performed CFO and/or NED roles for large international and domestic companies including ARN Media, A2B and Cochlear. Austal Chairman Richard Spencer said: “Brent’s international finance, M&A and risk experience will bring important additional expertise to the Austal board. And while we tend to focus on listed company experience, his current roles on the boards of both Silverchain and Canteen speak to the quality of the individual.”

Osteopore raises $20 million as sales grow

Australian-Singaporean regenerative medicine company Osteopore has entered into a term sheet with Cayman Islands based Advance Opportunities Fund and Advance Opportunities Fund I to issue 4% in redeemable convertible notes with an aggregate nominal value of up to $20 million to the subscribers. Osteopore manufactures 3D-printed biomimetic and bioresorbable implants that aid tissue and bone regeneration. Chairman Mark Leong said: “In the past 18 months, our commercialisation efforts have delivered six consecutive quarters of revenue growth, with our bioresorbable implants now used in more than 120,000 surgeries. Osteopore has demonstrated and remains committed to expanding our business, securing further regulatory approvals, and advancing our regenerative capabilities, paving the way for sustained growth.”

Forbidden Goods completes acquisition of Good Oats business

Sustainable infant, toddler health and plant-based ingredients company Forbidden Foods has completed the acquisition of 100% of the issued capital of oat milk products manufacturer Good Oats Pty Ltd trading as Oat Milk Goodness in an all scrip deal. Co-founded by Australian cricketer Steve Smith, OMG’s core oat milk product has gained traction in the café and barista industry, with the company broadening its range to include flavoured milks and ‘prOATein’ options. Integrations between the businesses are well progressed, with an initial focus on streamlining logistics and supply chain management, along with back-office processes to generate cost savings. Forbidden Foods’ Chief Executive Officer Alex Aleksic said: “Post-acquisition, the Board and management team are firmly of the view that we have a unique opportunity to build Forbidden Foods into a significant FMCG business, with growth opportunities in both domestic and international markets.”

Solar salt project construction begins

One of the world’s largest solar salt projects has commenced operations in the Pilbara, after BCI Minerals received final approval for its Mardie Salt and Potash Project. Located 80 kilometres south-west of Karratha, the project is capable of producing 5.3 million tonnes of industrial salt annually for manufacturing processes, including batteries and solar panel. Construction of the Mardie Project commenced in February 2022 and is now more than halfway complete, with more than $700 million invested to date. In recognition of its significance to WA, the project was granted Lead Agency status by the State Government, helping to streamline approvals.

Noxopharm secures cash raise with R&D tax incentive payment

Biotech company Noxopharm has issued $2.1 million of convertible notes to sophisticated investors. The issue provides ongoing funding for the company and allows it to fully explore all capital management and other potential opportunities without time pressures, according to an announcement. The notes will be funded in January 2025 and are secured over the 2024/25 Australian Tax Office R&D tax rebate. They attract an interest rate of 12% capitalised until the date the notes are fully repaid or converted into shares.

BAE Systems to anchor at Lot 14 innovation precinct

Australia’s largest defence manufacturer BAE Systems Australia has committed to establish its head office in Adelaide at the Lot Fourteen innovation district. BAE Systems will move into Lot Fourteen alongside more than 160 other innovation and technology-focused companies, and Commonwealth and State Government-funded agencies specialising in defence, space, critical technologies, and cyber capabilities. The company will take up the anchor tenancy at the Innovation Centre, the first new build at Lot Fourteen – which has already seen government investment of $756 million – with plans for around 500 employees to be located in the new building. BAE Systems has more than 6,500 employees across Australia including at the Osborne Naval Shipyard and a technological and manufacturing precinct at Edinburgh Parks in Adelaide.

Innovation and industry leaders appointed to STA’s Bench-to-Boardroom Committee

Science & Technology Australia has announced appointments to its Bench-to-Boardroom Committee, an initiative it says aims to bridge the gap between academic research and industry applications, and embody its “commitment to enhancing the commercialisation of scientific research in Australia.” The five inaugural Bench-to-Boardroom Committee members join already-appointed co-chairs, immediate past President of STA Professor Mark Hutchinson and STA Vice-President Jas Chambers. They are Pro Vice-Chancellor (Industry and Innovation) at UNSW Stephen Rodda; policy and strategy leader in science, technology and innovation Matt Wenham; Group Executive – Commercial at Cicada Innovations Ingrid Marsh; founding Director of the Centre for Sustainable Materials Research & Technology at UNSW, Professor Veena Sahajwalla; and Partner and Co-founder at Cruxes Innovation Jonathan Lacey.

QMI appoints new CEO

Not-for-profit group the Queensland Manufacturing Institute has announced Ali Davenport as its new CEO. “Ali has a passion for leading organisations and helping businesses to grow, most recently demonstrated as CEO of Toowoomba and Surat Basin Enterprise (TSBE)” reads their update on Linkedin last week. “Ali has a wealth of experience across diverse industries such as energy, infrastructure, manufacturing, agriculture, health and education, helping identify and realise growth opportunities. We look forward to having her lead QMI as we enter a new and exciting chapter.”

Spaceport welcomes new GM

Spaceport operator and launch technology infrastructure company, Equatorial Launch Australia (ELA), has announced Brian Duane as the new General Manager of its Arnhem Space Centre. In a statement on Monday, the company said the appointment was made due to the recent securing of a second resident launching position by France’s Sirius Space Services (Sirius), and would “oversee all spaceport operations and services to deliver a world class operational launch site for Sirius”. Sirius and Innospace will take up their residencies onsite in 2025. Duane — who recently left the RAAF — and his team will have critical operational oversight of delivery of all clients’ ground-based needs at the Arnhem Space Centre. Group CEO of ELA, Michael Jones, said, “Brian’s rare experience, qualifications and expertise as both a civil engineer and ICT professional will benefit ELA and its customers, and I am delighted to welcome him to the team.”

IBISWorld releases electric lighting equipment manufacturing industry report

According to a newly-updated report from market research firm IBISWorld, the local electric lighting equipment manufacturing industry faces fierce competition from import penetration, and “revenue is expected to have plummeted at an annualised 5.4 [per cent] over the five years through 2024-25, to $1.10 billion”. Construction markets — one area where Australian companies had been able to compete on premium offerings — have fallen over the past five years, and declining demand from construction has contributed to an anticipated revenue fall of 3.9 per cent in 2024-25. The three biggest local players were mentioned as Signify, ZG Operations Australia, and Coolon LED Lighting.

Online series to look at the life cycle of a manufacturing business

Accounting and advisory services firm William Buck has announced that it is a hosting a four-part webinar series over October and November, tailored to manufacturing firms at all stages of the business growth lifecycle. Beginning on October 8, the series will feature specialists from the company and comprise the following four topics: ESG and climate reporting, The startup journey, The growth journey, and Maturity & exit strategies. A summary reads: “Whether you’re a startup or a mature business, this series will provide insights on key topics such as ESG and Climate Reporting, scaling operations and navigating the complex landscape of manufacturing”. More information is available here.