Bisalloy reaffirms profit guidance
High strength and armoured steel manufacturer Bisalloy Steel (pictured) does not expect the Covid-19 outbreak to alter its profit guidance for the year which remains at $12-$13 million, up to 40 per cent higher than the previous year. There are encouraging signs of revival in the company’s Chinese business, while Thai demand is stable.
Micro-X on track to raise $15 million
Carbon nanotube X-ray manufacturer Micro-X is on track to raise $15 million in new equity. The company successfully raised $8.75 million in a placement to institutions, and is now seeking to raise $6.25 million from shareholders at 14 cents a share. The company has seen a boom in sales of its machines which help diagnose Covid-19, and is valued at $42 million.
THC Global to begin cannabis sales in May
Medicinal cannabis manufacturer THC Global will begin selling its Canndeo branded medicines in Australia via prescription in May. The company, which manufactures at its GMP approved Southport facility, has also secured European distribution through ACA Muller of Germany.
Wearable smart patch will be commercialised, manufactured in Australia
A team developing a wearable device providing nutrition data, allowing users to reduce the risk of developing diseases such as type 2 diabetes, is “now researching and developing the required manufacturing capabilities to pilot manufacture the device.” The collaborative project is being led by Nutromics, with RMIT University, Griffith University, and manufacturer Romar Engineering, and is backed by the Innovative Manufacturing CRC.
Picture: Bisalloy Steel Group