Mining equipment manufacturer Plastico and Hackett Engineering has been awarded a $47,500 grant from the South Australian State Government to pursue new business opportunities outside the mining sector.
The funding, awarded under the $4.5 million Business Transformation Voucher program, allowed the Townsville-based company to shift from the mining sector into the growing medical technologies sector which is experiencing a rapid increase in demand for high-quality medical device components manufactured in the State.
The Torrensville-based business, which also conducted a review of its engineering plant layout, production equipment and operating efficiencies, is now making complex orthopaedic screws for another South Australian company, Austofix – a manufacturer of innovative orthopaedic implants.
Managing Director David Schiller said the company’s highest priority is to increase capacity to meet its customer requirements in a ‘managed and validated way’.
“The medical devices sector in South Australia is burgeoning and our reputation is growing in the industry,” Mr Schiller added.
“This State Government grant will help us to develop new products that are high value and will help the company expand into the growing medical technologies sector.”
Manufacturing and Innovation Minister Kyam Maher said the funding awarded under the Business Transformation Voucher program is competitive and requires matched contributions from firms.
“Through the Business Transformation Voucher program, the State Government is helping eligible manufacturers diversify into new products and markets and improve their productivity,” the Minister continued.
“I congratulate the latest round of Business Transformation Voucher recipients who are actively looking for ways to innovate and grow their business, creating jobs for South Australians. We are seeing more businesses like Plastico and Hackett exploring new ideas to help meet increased demand for high-quality manufactured, South Australian products.”