Melbourne-based parts manufacturer Hosico Engineering has been announced as one of the latest recipient of funding under the Government’s Defence Global Competitiveness Grants program which was designed to help Australian businesses invest in projects that build their defence export capability.
In making the announcement, Defence Industry Minister Melissa Price said Hosico Engineering will use the $150,000 grant to install a finishing centre and improve their capacity to supply thermoplastic and finished components.
“This program is part of the Morrison Government’s commitment to build a stronger, more sustainable and globally competitive Australian defence industry,” Minister Price continued.
“Over 26 Australian small businesses have benefited from an investment worth over $3.4 million through this grants program so far.”
Senator for Victoria, David Van, said the investment will allow the company to establish itself as a reliable future supplier to international defence aerospace companies.
“This funding is all about assisting Hosico Engineering to boost its sales to the international aerospace industry,” Senator Van said.
“Companies that export are not only growing our sovereign capability, but we know they also expand and can then employ more people than businesses who don’t look beyond their own backyard.”
Applications for the Defence Global Competitiveness Grants program can be made at: www.business.gov.au/dgc.