What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) Applications open for Industry Growth Program, $6.9 million announced for four not-for-profits to assist IGP A total of $6.9 million in grant funding was announced for four Industry Partner Organisations (IPO), alongside the opening of applications for the…
By Peter Roberts Defence Minister Richard Marles is comfortable with the possibility of Australia’s most successful locally owned defence manufacturer, Austal, falling to overseas ownership. I, for one, am not. In April Korean defence group Hanwha bid to buy Austal, emerging into the open after months of speculation that the company was a takeover target.…
Defence Minister Richard Marles has announced a new $100 million assistance package for Ukraine, bringing the total Australian commitment so far to $880 million. However the decision, announced in the Ukrainian city of Lviv, has been immediately criticised as it continues a parsimonious support for the beleaguered country compared to other nations. Australia’s contribution is…
Sparc Technologies raises $2.25 million Graphene and green hydrogen developer Sparc Technologies has received firm commitments from sophisticated and other professional investors to raise $2.25M through a share placement. New and existing investors strongly supported the placement. Sparc Technologies Managing Director Nick O’Loughlin, said: “Sparc is very pleased with the strong support it has received…
Defence Minister Richard Marles has outlined an ambitious Integrated Investment Program which incudes a jump in defence spending to the equivalent of 2.4 percent of GDP by 2033-34, a rise of a massive 0.3 percent on earlier projections. The programme, a response to the 2024 National Defence Strategy, involves a complete rebuild of Defence’s capability…
Armour steel manufacturer Bisalloy Steel has broken into the US military shipbuilding market, snaring a purchase order for processed Australian steel from Newport News Shipbuilding. Newport News is a division of HII, the largest military shipbuilder in the US and one of two US companies that designs and builds nuclear-powered submarines. Bisalloy, which processes steel…
By Peter Roberts The decision that BAE Systems Australia and ASC Pty Ltd are to build SSN‑AUKUS submarines in Adelaide promises to return government-owned ASC closer to the role originally intended when then defence minister Kim Beazley established the ASC to build the Collins Class submarine. The company, which will now also sustain Virginia and…
By Peter Roberts BAE Systems Australia and submarine builder ASC are the big winners in the federal government’s decision to name the companies that will build SSN‑AUKUS submarines in Adelaide. As predicted by @AuManufacturing news, BAE Systems and government owned ASC Pty Ltd will work together to establish the complex project and form a collaborative…
By Peter Roberts It is amazing what a little cold hard cash – an extra $11 billion bringing the total to $38 billion over 10 years to be exact – can do. The federal government has tried to work wonders by piling the cash into the defence budget to achieve three of what seemed like…
The federal government has committed an extra $11.1 billion over the next decade in its announcement on the future surface combatant fleet, in response to an independent analysis finding “in excess of $25 billion in unfunded promises” and following last year’s Defence Strategic Review. There will now be six Hunter Class Frigates, down from nine,…
