Manufacturing among sectors supporting Australia’s rise in new capex, ABS says
Australia’s manufacturing sector featured prominently in the latest increase in business investment, with new capital expenditure rising 6.4 per cent in the September quarter, according to figures released by the Australian Bureau of Statistics (ABS).
Incitec Pivot sells US ammonia facility for $2.5b
Incitec Pivot Limited has agreed to sell its ammonia manufacturing facility in Waggaman, Louisiana to CF Industries Holdings, Inc. (CF) for USD 1.675 billion (AUD 2.5 billion).
AML3D boosts US presence with new US Navy alloy testing contract
Wire Additive Manufacturing developer AML3D Limited has signed a contract for an alloy characterisation and testing program to support the US Navy’s submarine industrial base.
Mayne Pharma sells US retail generics portfolio for $134 million
Australian pharmaceutical manufacturing company Mayne Pharma has completed the sale of its US retail generics portfolio to Dr. Reddy’s Laboratories for approximately $134 million.
Austin marks first sale of Mainetec dipper bucket in US
Global mining equipment designer and manufacturer Austin Engineering has sold its first Mainetec-designed dipper bucket to a customer in the United States.
Welding company K-TIG bags $600,000 order for turnkey welding system
K-TIG Limited has received a $600,000 supply and onsite commissioning order from Brewery Chemical & Dairy Engineering for the development of a Linear Precision Grow Line Circumferential Welding System
RWC signs $160M acquisition of Holman Industries
Reliance Worldwide Corporation (RWC) has agreed to acquire Holman Industries, a leading manufacturer and distributor of branded plumbing and watering products in Australia, for $160 million.
Small business optimism declines as expectations for better business conditions worsens in December
The NFIB Small Business Optimism Index declined 2.1 points in December to 89.8, marking the 12th consecutive month below the 49-year average of 98.
Australian manufacturing PMI sees stability amid improvement in new orders
Australia’s manufacturing sector has seen a further expansion in February amid a moderated decrease in new orders as firms worked through their outstanding orders.
Austal’s EBIT rises to $56.5M in FY2024 amid record $12.7B order book
Austal Limited announced its financial results for the fiscal year ending 30 June 2024 (FY2024), reporting a significant turnaround with Earnings Before Interest and Tax (EBIT) of $56.5 million.
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APS Industrial expands regional footprint with Control Technologies acquisition
APS Industrial (APS) is expanding its regional presence through the acquisition of Albury-based Control Technologies, a move the industrial products supplier said will strengthen its local service capability and support further investment in warehousing, stockholding and technical support.
