Pull Future Made In Australia funding for failures, thinktanks say
Labor’s major plan to reinvigorate Australian manufacturing needs the ability to pull taxpayer funding from underperforming projects, industry think tanks say.
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Delorean Corp secures funding for bioenergy project
Bioenergy developer Delorean Corporation has secured for its first build, own, operate bioenergy infrastructure projects at Salisbury north of Adelaide. The company executed a binding Term Sheet with Tanarra Restructuring Partners for the provision of a 3-year term corporate finance facility package of up to $30 million. $5 million will go towards working capital while…
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Orbital engine destined for military UAV
Drone engine manufacturer Orbital Corporation (Orbital UAV) has established a collaborative agreement with Dynamatic Technology to integrate an Orbital 150cc Heavy Fuel Engine (HFE) into a Dynamatic designed UAV for potential supply to defence forces. Dynamatic Technology is an Indian based manufacturer of highly engineered, mission critical products for the Aerospace, Automotive and Hydraulic industries.…
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Quickstep clears the decks for return to growth, profit
FY24 was a year for clearing the decks and returning to underlying profit, according to advanced composites manufacturer Quickstep’s yearly financial results. The Sydney company’s full year group revenue exceeded guidance at $99 million with its service group announced for divestiture growing by 94 percent percent year on year to exceed $10 million. With the…
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Austin continues sales, profit expansion
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…
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Manufacturing news briefs – stories you might have missed
Cathy Foley to lead expert methane reporting panel The federal government has appointed Chief Scientist Cathy Foley to lead an expert panel as part of efforts to ensure the ongoing reporting for methane and other greenhouse gases is accurate and transparent. The Government has released its response to the recommendations of the 2023 review of…
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Lessons in Resilience – sign up now to our latest webinar
@AuManufacturing and Epicor have brought together three established Australian manufacturers, each international in outlook that have thrived by serving customers with challenging technical demands (Details and sign up here). Hear how these leaders made their companies resilient to economic ups and downs, changes in consumer demand, and technology shifts How are they approaching hot operational…
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Austal to pay US24m penalty to resolve investigation, escapes charges
Shipbuilder Austal will pay a US24 million penalty but has escaped charges in a resolution of investigations by the US Department of Justice (DoJ) and the US Securities Exchange Commission (SEC) over the write back of work in progress (WIP) in July 2016. Austal did not asdmit or deny the allegations as part of the…
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Navantia transfers technology to Halliday Engineering
Spanish shipbuilder Navantia Australia has awarded Sydney based company Halliday Engineering a contract for manufacturing the replacement bow ramps for the Canberra class Amphibious Assault ship (LHD) Landing Craft (LLC). Sydney-based Halliday Engineering collaborated with Navantia Australia’s engineering team for the design enhancement of the LLC ramps, which involved the transfer of Intellectual Property to…
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3D metal printer sees 1,005% YoY revenue boost
AML3D has recorded a massive 1005% year-on-year boom in revenue as the U.S. defence sector takes advantage of its advanced manufacturing capabilities.
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