Advanced manufacturer PFG secures $600,000 loan to build prototype vessel for Defence

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Advanced manufacturer PFG has secured a $600,000 loan from the Tasmanian Government to construct an 11-metre ultra-durable High-Density Polyethylene prototype vessel for the Department of Defence.

PFG Group, which specialises in the manufacture of polyethylene products for a wide range of applications and industries, has made significant progress over recent years towards unlocking opportunities within the defence sector, particularly regarding its class-leading range of advanced tactical watercraft.

Minister for State Growth, Roger Jaensch, said the loan would enable PFG to showcase its unique boat building capabilities and its application to the defence sector, and to secure future opportunities across the domestic and international military and security domains.

“Construction of this ‘first in class’ watercraft will help secure the operations at PFG, with flow-on benefits to many local businesses,” Mr Jaensch added.

Minister for Advanced Manufacturing and Defence Industries, Jeremy Rockliff, said that with the Royal Australian Navy and Royal New Zealand Navy each looking to replace their sea-boat fleets over the next 2 decades, this prototype vessel will ensure that PFG has every opportunity to secure these contracts and create additional jobs.

“We recognise PFG’s importance to the Tasmanian economy through its status as a large employer in Tasmania as well as through the local supply chain businesses that rely upon its operations,” he concluded.

Image credit: https://pfg-group.com.au/wp-content/uploads/2021/05/defence_brochure-2021335.pdf
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