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.
The Henderson contractor that outplayed local shipbuilder Austal for a share of work on the navy’s new offshore patrol vessels has doubled profit over the past nine months, but it remains unclear how much work it will gain from the $3.5 billion project.
Struggling RV and accommodation business Fleetwood Corporation has made a pre-emptive move to avoid a board spill, after a major shareholder took steps to call a general meeting.
Austal has announced a $US30 million ($40 million) expansion of its commercial shipbuilding operations across three sites, including a $6 million upgrade at Henderson, days after the company was left out of the contract to build Australia’s new offshore patrol vessels.
The German company contracted to build Australia's new offshore patrol vessels has concluded negotiations with its build partners, but Henderson-based Austal will not be participating, with Civmec being the big local winner.
Shares in Perth-based Fleetwood Corporation fell nearly 20 per cent today after the RV and accommodation company flagged subdued market conditions for its caravan manufacturing business.
