Explosives manufacturer Incitec Pivot has reported a 34.8 per cent fall in profit for the year to September, including a $7 million hit from lost business in Western Australia.
National automotive services business AMA Group has struck a $68 million deal with new investors, which includes a big share selldown by management, after Perth-based Andrew Hopkins became the company’s chief executive.
A new report has cast doubt on Western Australia's suitability as a lithium battery-making hub, claiming low labour productivity, distance from major markets and difficulties sourcing the necessary material as barriers to any potential development.
Dredging a second channel into Garden Island and major road upgrades could be priorities in a Henderson precinct master plan to be drafted by the state government in 2019, while Defence Minister Chris Pyne today announced a new $200 million vessel will be built at the yards.
Civmec has erected the first steel for its new $80 million assembly hall in Henderson today, with Prime Minister Scott Morrison in attendance for the event.
An improved result in Western Australia, despite challenging market conditions and continued falls in brick selling prices, has helped building materials company Brickworks boost underlying net profit to $223.7 million for the 2018 financial year.
Months after being overlooked by the Australian government for local naval contracts, Henderson-based Austal has achieved more success in the US, securing a $1.6 billion contract to build two ships for the US Navy.
Austal has appointed Chris Indermaur to its board as a non-executive director, while William ‘Bill’ Plyley has stepped down as chairman of Stavely Minerals due to health reasons.
A strong performance in the United States has underpinned a 150 per cent increase in profit for shipbuilder Austal, although chief executive David Singleton has said the company’s defeat in the offshore patrol vessel bid will mean a tougher future for its Henderson shipyard.
Austal has been selected as preferred supplier to build six naval vessels for the Philippines, using a design similar to the offshore patrol vessel concept which was unsuccessful in a recent federal government tender.
Kewdale-based manufacturer Fero Group appears set to be acquired by global outifit DYWIDAG-Systems International (DSI) Group, after the competition watchdog said it would not oppose the deal.
Austal has announced the government of Caribbean country, Trinidad & Tobago, intends to purchase two patrol boats in a deal worth approximately $100 million.
Two Perth companies have announced board moves with political connections, with Austal director Jim McDowell leaving to take a powerful job with the South Australian government and IT company Cirrus Networks appointing Paul Everingham as a non-executive director.
Fleetwood Corporation has continued with a major reshaping of its business, announcing two acquisitions on the east coast and a $60 million capital raising, one month after selling its caravan manufacturing business.
The federal government has today announced its $35 billion frigate project will be built in Adelaide, with local shipbuilder Austal missing out on the main contract.
The federal government has launched an inquiry into cheap imports of ammonium nitrate following an application by three local manufacturers, including Wesfarmers subsidiary CSBP and Orica.
Perth investor Andrew Hopkins’ planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.
Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.
A former Austal executive has been restrained from working for competitor Civmec on the $3.6 billion offshore patrol vessels program, after an interim injunction was handed down in the Supreme Court last week.
Perth-based startup Rhinohide has spent the past three years growing its presence in Australia among 4X4 enthusiasts and is now preparing to expand into the US.
A Perth-based business that uses augmented reality technology to help customers visualise designs for factories, offices or other products is investing up to $6 million in research after winning a federal grant.
Melbourne-based fertiliser and explosives manufacturers Incitec Pivot and Orica have continued their battle for iron ore contracts in the Pilbara, with Incitec winning a five-year supply deal with Fortescue Metals Group.
German shipbuilder Lürssen has unveiled plans to establish a joint venture with local contractor Civmec to build 10 offshore patrol vessels at Henderson, two weeks after it failed to strike a deal with experienced shipbuilder Austal.
Moves to encourage downstream lithium processing in Western Australia continued today, with the state government announcing a taskforce to develop a strategy for the sector.
Interest is growing in Kwinana as a possible battery manufacturing hub, with Wesfarmers mooted to be considering a move into the sector and representatives from US electric car manufacturer Tesla in Perth to meet with Premier Mark McGowan today.
