Electronics manufacturer Codan has delivered its full-year results, with group revenues up 22 per cent to $674.2 million and “all profitability metrics increased” versus the previous financial year. According to a statement from the ASX-listed company on Thursday, net profit after tax was up 27 per cent to $103.5 million and earnings before interest and…
Brisbane-based nanomaterials company Graphene Manufacturing Group has raised gross proceeds of C$5 million (approximately $5.6 million) through a sale of 5,555,556 units at C$0.90 (approximately $1.) According to a statement from the company on Wednesday, it has entered into an agreement with Red Cloud Securities as sole underwriter and bookrunner, with Red Cloud purchasing the…
The administrator to Energy Renaissance has given “withdrawal of a major investor from a planned funding subscription program” as the reason for the battery maker’s difficulties. According to a short statement from Jirsch Sutherland provided to @AuManufacturing on Sunday, the withdrawal “left the company in a cash crisis“. Stewart Free and Bradd Morelli of Jirsch…
Uranium enrichment company Silex Systems has received firm commitments to raise $130 million via an institutional placement of approximately 33.3 million new fully paid ordinary shares at $3.90 per share. According to a statement from the company on Thursday, proceeds will be used primarily to support commercialisation of the company’s SILEX uranium enrichment technology in…
The federal, South Australian and Tasmanian governments have committed $57.5 million, $55 million and $22.5 million respectively to support the modernisation of Nyrstar’s Australian refining facilities and move them towards critical minerals production. According to a joint statement from industry minister Tim Ayres and the two states’ premiers on Tuesday, combined government support of $135…
The deadline passed on Friday for the indicative bidding stage of the sale of Whyalla steelworks, which was put into administration earlier this year. KordaMentha put out a statement last Thursday saying that the duration was uncertain “and will be highly dependent on the nature of the indicative interest received and the extent of engagement…
You have to get a lot right, but there’s an element of right place, right time when it comes to selling water heaters. According to Simon Terry, who runs one of the last three companies making water heaters in Australia, it’s a “no-interest category”, and you’re in the market once every 15 years. “My wife…
The federal and South Australian governments have announced an additional $275 million in funding to support operations, workers and suppliers at the Whyalla Steelworks as the sales process continues. KordaMentha were appointed as administrators in February, with the state and federal governments announcing support totalling $2.4 billion for the site soon after. This was described…
Focus and finance were the dominant themes at Spotlight on Scaling Up, a recent half-day seminar by @AuManufacturing in partnership with AMGC, BDO, and the Australian Business Growth Fund. Keynote speakers Alf and Nadia Taylor shared their adventure from husband-and-wife engineering consultancy to an international food packaging and processing solution provider with a headcount of over 600…
Eco Detection appoints new CEO Water monitoring device company Eco Detection announced on Tuesday that Charles Macfadyen has joined as Chief Executive Officer. In an update on Linkedin, the company said Macfadyen brings a wealth of knowledge as a seasoned technologist within the mining and mineral exploration sector, with a deep expertise spanning both software…