News Articles for VEEM

Marine technology company VEEM has substantially revised down its earnings outlook for the current half-year but expects a strong rebound in the second half after overcoming delays.

Shares in Canning Vale-based VEEM briefly touched a record company price of $1.95 per share on Tuesday, following a series of key announcements.

Shares in Canning Vale-based VEEM closed trade up 10 per cent to $1.09 on Tuesday, following news it had signed a six-year, $65 million defence contract renewal with ASC.

Marine technology company VEEM has announced three key management appointments, effective from July 1.

Marine technology firm VEEM has secured an agreement with US-based Sharrow Engineering to manufacture and sell a collaborative propeller product.

Our board moves wrap includes Nev Power, Michael Bowen, Nicholas Earner, Craig Bradshaw, Raleigh Finlayson, Michael Fowler, Graeme Smith, and Tracy Caudwell.

Cleantech business Hazer Group and marine technology manufacturer VEEM have raised a combined $13 million from share placements to fund research and development initiatives.

Marine technology manufacturer VEEM is expecting to post a 34 per cent jump in revenue in the past 12 months, to nearly $60 million.

A marine technology company based in Canning Vale has been subcontracted to work on the federal government's Hunter frigate program.

Six WA businesses including IPI Packers, Blasta Brewing, Bonissimo Coffee Roasters and Veem have been offered $4.5 million in federal government grants to support manufacturing projects.

Marine technology company VEEM has secured a $9 million order from the Australian Submarine Corporation for specialised parts for the Collins-class submarine maintenance program.

Marine technology company VEEM has today launched a new gyrostabiliser and a facility with the capacity to produce more than $100 million worth of gyros a year to cater for an anticipated uptick in demand.

A focus on safety and efficiency has helped Tensa Equipment spin-off Roborigger win an unprecedented three of four sponsored platinum awards at this year's Innovator of the Year ceremony, including the Business News ‘Great for the State' award.

Our daily board moves wrap includes Geraint Harris, Alexander Burns, Kevin Tomlinson, Ray Shorrocks, Justine Campbell, Keith Bakker, David Rich, Peter Torre, Richard Hyde, Lyndon Hopkins, Rodney Leonard, Nigel Spicer, Mark Connelly, Ian Kerr, Luke Holden, Stuart Cruickshanks, and Todd Giltay.

Marine technology company VEEM has announced successful sea trials of its gyrostabilisers by Netherlands-based shipbuilder Damen Shipyards.

Marine engineering firm Veem is hopeful its gyrostabiliser technology will provide the next major step in its future growth plans.

Marine technology company VEEM has signed a contract with Netherlands-based Damen Shipyards to supply its newest stabilisation system, subject to successful sea trials.

Marine technology company VEEM has delivered its first full-year results since listing on the ASX in October, with a better-than-expected normalised profit.

Canning Vale-based Veem says it will meet its forecast net profit target of $4 million when it reveals its first full-year results as a listed company.

The recently recruited global sales manager of Perth engineering company VEEM has been forced to resign after his former employer took Supreme Court action, claiming he breached terms of his employment agreement.

Recently listed marine technology company VEEM has flagged gross profit in line with expectations, but expects to report a smaller net result than what was forecast in its prospectus, on the back of a one-off cost.

SPECIAL REPORT: Private sales during the past year have reduced the already small number of long-running family businesses in WA.

Three local businesses have been inducted into Family Business Australia's hall of fame, including an electrical contractor established in 1920, a fertiliser supplier and an engineering business that recently listed on the ASX.

SPECIAL REPORT: The median base pay of newly appointed chief executives at listed Perth companies fell this year to $295,000, a survey by Business News has found.

Marine-focused engineering business VEEM has enjoyed a solid debut on the ASX today, with shares closing 20 per cent higher on its initial public offering price.

SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.

Marine manufacturing firm VEEM has raised $25 million from its initial public offering, with its stock expected to start trading on the ASX later this month.

Engineering business VEEM is forecasting strong growth in revenue in the current financial year but a fall in profit, the family owned company has disclosed in the prospectus for its $25 million initial public offering.

The state government has defended its oversight of motor racing in WA following accusations of anti-competitive behaviour.

Australia's defence capability acquisition projects have a poor historical record in terms of cost and schedule, largely due to Canberra's failure to acknowledge and support reliable industry performance.

Innovation is enabling a handful of WA manufacturers to survive in a market under increasing pressure.