Defence companies have quickly moved to welcome federal government plans for an enlarged Royal Australian Navy surface fleet at a cost of $11.1 billion over 10 years. Raytheon Australia Managing Director Michael Ward said the planned fleet wiould provide Australia with a much more potent naval capability encompassing significantly enhanced vertically launched strike and air…
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…
Seven Group Holdings (SGH) has made a $1.2 billion offer to move to full ownership of building products group Boral, adding to the Perth company’s diverse group of media and industrial companies. SGH currently holds 71.6 percent of Boral, with the offer pitched at 0.1116 SGH shares and $1.50 cash per Boral share – an…
Downstream mineral processor Alpha HPA has announced that its plans to construct Australia’s first growth facilities for synthetic sapphire used in high technology industries are advancing at Gladstone in Queensland. The company is commercialising sapphire production utilising the Austrian Ebner-Fametec sapphire growth technology utilising Alpha’s high purity alumina feedstock. Sapphire glass is ultra-pure glass used…
Hearing implant manufacturer Cochlear has reported a 20 percent jump in sales for the half year ended December, 2023 to $1.1 billion, driven by strong growth in cochlear implants and sound processor software upgrades. Cochlear implant units increase by 14 percent as the company consolidated market share gains and strong growth in developed and emerging…
By Peter Roberts The Queensland government is getting back in the venture capital game and directly investing in young – and inherently risky – businesses. State owned VCs have been on the nose since the failure of the Victorian Economic Development Corporation and subsequent abolition in 1993, its demise as much a result of the…
By Peter Roberts Australian-born, US based automotive wheel manufacturer Carbon Revolution has announced preliminary sales for the fiscal second-quarter ending December 2023 of a record US$14.8 million, exceeding previously announced guidance for the quarter of US$14.0M-US$14.5M. For the year ended December 31, 2023, revenue increased 42 percent to US$40.3 million. CEO of Carbon Revolution Jake…
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,…
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…
Not content with Whyalla’s emergence as a green steel production hub, a second South Australian city – Port Pirie – has joined the race to become a green metals hub based on the state’s huge reserves of magnetite ore. While haematite from the Pilbara has been the source of most of Australia’s iron ore exports,…