Automated welding company K-TIG has announced that an acquisition of UK’s Graham Engineering Limited (GEL) will not go ahead, blaming a challenging environment and GEL’s trading performance. In a short statement on Friday morning, the company confirmed that the planned acquisition – first shared by company in January last year, and aimed at gaining K-TIG…
Details
SME defence business Australian Target Systems has been awarded a five-year, $33 million contract for supply and servicing of their live-fire target systems at training ranges across Australia, and providing these for Australian personnel to use while deployed overseas. In a statement on Friday morning, defence industry minister Pat Conroy said, “Australian Target Systems has…
Details
ASX-listed compound semiconductor developer BluGlass has signed a Memorandum of Understanding (MOU) with US defence and dual-use photonics company, Applied Energetics, with the two companies to work together on military and commercial applications. In a statement on Friday, BluGlass said the work would leverage its high-performance gallium nitride (GaN) distributed feedback (DFB) lasers “in Applied…
Details
Cleanaway Waste Management has posted strong profit growth as its waste management services grow and the company reaps the benefits of its Blueprint 2030 restructuring platform. The company reported underlying EBIT profit of $173.9 million, up 25.7 percent on the previous corresponding period on revenue up 7.9 percent to $1.59 billion for the first half,…
Details
NIOA Group CEO Robert Nioa has called for swift action to boost Australia’s defence industry so it could play a part in a future Indo-Pacific allied military force. Speaking to the American Chamber of Commerce (AmCham) Queensland Nioa said decisive action was needed due to a ‘palpable’ escalation of geopolitical tensions. Nioa recently inked an…
Details
Hamburg-based energy company Mabanaft has received a grant approval from the German Projektträger Jülich backing the construction of a new green methanol plant in Port Augusta, South Australia. Together with Australian renewable energy company Vast, Mabanaft is developing plans to build a demonstration plant with a capacity of around 7,500 tonnes of green methanol per…
Details
Treasury Wine Estates, the maker of Penfolds wine, is preparing to re-enter the Chinese market as soon as the market reopens as expected to Australian exports. The company, which reoriented itself towards luxury and premium wine brands to make up for the loss of profits from China, told investors that it expected China to release…
Details
Syntara has announced that a Phase 2 trial evaluating the combination treatment of its SNT-5505 with chemotherapy will go ahead for patients with a form of blood cancer. In a statement this week, the ASX-listed drug development company – formerly known as Pharmaxis – said that its SNT-5505 (previously known as PXS-5505) would be trialled…
Details
Visy has officially opened its upgraded glass recycling facility at Laverton, Victoria which recently doubled processing capacity to 200,000 tonnes per annum. According to a statement from state environment minister Steve Dimopoulos – who opened the facility on Thursday – the $50 million expansion includes delivering 20 new optical sorters for processing glass pieces as…
Details
The federal government has published the latest Science, Research and Innovation budget tables, and will spend $12.6 billion in the 2023 – 24 financial year, made up of $9.2 billion in direct R&D and $3.4 billion through the Research and Development Tax Incentive. According to a statement on Thursday from industry minister Ed Husic, the…
Details