Minister for Industry, Innovation and Science, Christopher Pyne, announced a series of grants for 10 innovative Australian automotive component manufacturers to ease their transition into new industry sectors ahead of the closure of Australia’s car industry in 2017.
Announcing the grants during a visit to Multislide Industries in Adelaide last week, Mr Pyne 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.
“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.”
The grants – ranging from $101,691 to $1 million – are awarded under round three of the Automotive Diversification Programme, which is part of the Australian Government’s $155 million Growth Fund.
Successful applicants 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 U.S and Europe with a range of products.
Matt Williams, Member for Hindmarsh, said it was very important for SA 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,” Mr Williams said.
Including last week’s announcement, the Automotive Diversification Programme has supported 31 diversification projects and is expected to drive almost $50 million investment in Australian manufacturing.
To see the full list of grant recipients under round three of the Automotive Diversification Programme, please click here.