Mining equipment company Austin Engineering has seen a 22.2 per cent increase in revenue to $376.7 million for the last financial year, with North American earnings up 54 per cent to $146.8 million. The ASX-listed company saw rises in EBITDA for the year to $55.8 million (up 29.6 per cent) and net profit after tax…
Arafura vessel commissioned The Royal Australian Navy commissioned the first of six Arafura class offshore patrol vessels (OPVs) at Fremantle, Western Australia, on Saturday. According to a statement from Defence, the OPVs (built by Luerssen Australia, which is owned by Civmec as of Wednesday) will improve the “ability to contribute to maritime patrol, response and…
CSIRO, HILT CRC announce $10 million green metals initiative A $10 million Green Metals Innovation Network (GMIN) — led by CSIRO in partnership with the Heavy Industry Low-carbon Transition Cooperative Research Centre (HILT CRC) – was announced on Tuesday. According to a statement from CSIRO, the federal government-funded initiative will bring together research, government and…
Austin Engineering announced on Wednesday it had increased guidance for FY25 revenue to approximately $370 million, up from the $350 million forecast in February, but revised underlying EBIT guidance down from approximately $50 million to circa $41 million. The engineering company said revenue was expected to be up by approximately 18 per cent versus FY24…
Titomic signs collaboration agreement with DNV Last week cold spray additive manufacturing company Titomic announced a strategic collaboration agreement with DNV, an assurance and risk management provider. According to a statement from Titomic, it will advance Titomic’s efforts to obtain certifications for its coating and repair technologies across the oil and gas and maritime sectors,…
Mining equipment manufacturer Austin Engineering has received purchase orders for 17 heavy load haul truck trays from a tier one iron ore producer in India, its first in this prospective market. The orders for the ULTIMA trays will form part of a tray replacement programme with a service life of approximately four years. Austin’s expectation…
Mining equipment manufacturer Austin Engineering has won more than 100 orders for new min truck trays at its Chile business in the first three months of FY25. The orders are collectively worth $35 million and represent significant, and potentially ongoing incremental business over the previous year, according to the company. The bulk of the purchase…
Mining equipment manufacturer Austin Engineering has made the first shipment of an Armadillo electric rope shovel dipper bucket, following its acquisition of bucket specialist Mainetec in 2022. In a statement on Tuesday, Austin said the bucket was on its way to an unnamed customer for use on a US copper mine. The order was claimed…
Mining equipment manufacturer Austin Engineering has continued its run of strong sales and profit increases in FY24, announcing underlying EBITDA up 48.9 percent to $46.6 million on revenue up 21 percent to $313.2 million. As the company continued its improvements driven by its Austin 2.0 programme begun in 2021, Austin reported a statutory NPAT of…
Queensland science strategy to support new industries The Queensland government has launched a Future Queensland Science Strategy 2024-2029 which aims to capitalise on fields such as renewable energy, climate change mitigation and quantum and advanced technologies. It will seek to generate and translate Queensland’s scientific endeavours into new industries and investment. Science Advisory Council Queensland…