none
none

AUTO MANUFACTURERS GETS A $15M BOOST

22-01-2016
by 
in 

More than $15 million will be invested in 10 innovative Australian automotive component manufacturers to help them move into new industry sectors before local car manufacturing ceases in 2017.

Industry Minister Christopher Pyne announced the grants during a visit to Multislide Industries in Adelaide last week.

He said that $4,797,383 in Government support would generate a total of $15.1 million in investment, to help firms diversify into new markets.

Ten businesses will receive grants ranging from $101,691 to $1 million from round three of the Automotive Diversification Programme to complement contributions by each recipient.

Successful applicants and grant offers include:

·       Multislide Industries Pty Ltd in Edwardstown, South Australia – $259,100 grant towards the introduction of advanced technical capabilities to enable the manufacture of high-end, custom made furniture.

·       Orbital Australia Pty Ltd, in Balcatta, Western Australia – $101,691 grant towards developing a combination of thermal and vibration testing services for defence applications.
 

·       Luna Nameplate Industries Pty Ltd, Bayswater North, Victoria – a $441,122 grant for the purchase of machinery to fulfil a new licence agreement to supply wholesalers in Asia, the US and Europe with a range of products.

Mr Pyne said this Automotive Diversification Programme funding was part of the Australian Government’s $155 million Growth Fund.

In total the programme has supported 31 diversification projects and is expected to drive almost $50 million investment in Australian manufacturing.

“This investment enables our manufacturers to move to a new model that’s characterised by the kind of innovation and spirit the Government is fostering through its new National Innovation and Science Agenda,” Mr Pyne said.

“This is key to our commitment in ensuring a strong and sustainable high-value, globally-competitive, manufacturing industry in Australia.”

Hindmarsh MP Matt Williams said it was extremely important to South Australian workers and the economy that local manufacturers were given the financial support they needed to produce new products and move into new markets.

“The Government continues to support component makers like Multislide Industries in transitioning their businesses ensuring skills and jobs in Australian manufacturing are retained.”

More information: www.business.gov.au

Related news & editorials

  1. 22.02.2018
    22.02.2018
    by      In
    As part of LAND 400 defence bidding, Australia stands to receive international technology that would allow world-leading ballistic armour to be produced in a local environment. 
    If bidding is sucessful, RUAG Australia will produce the cutting-edge ballistic armour for 225 Australian Army Combat... Read More
  2. 22.02.2018
    22.02.2018
    by      In
    As the sheer scale of corporate and private food waste continues to grow as a political and economic issue, more and more groups are stepping up to show just how much our wasteful practices are costing us. 
    The newly formed Australian Food Cold Chain Council aims to address food wastage by tackling... Read More
  3. 22.02.2018
    22.02.2018
    by      In
    Carnegie Clean Energy has received a grant of AU$3 million from the government of South Australia to build a 2MW battery system near Adelaide.
    The 2MW/500kWh storage project will be installed on the site of the former General Motors Holden manufacturing facility in Elizabeth.
    The grant was awarded... Read More
  4. 22.02.2018
    22.02.2018
    by      In
    Even as large automotive brands pulled out of Australian manufacturing, truck manufacturer Iveco has been pushing into the Australian market, increasingly selling and manufacturing on-shore. 
    Along with Volvo/Mack and Kenworth/DAF, Iveco is one of a few truck manufacturers still building in... Read More