Manufacturing

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.

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.

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.

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.

Specialist glass company ClearVue Technologies will commence trading on the ASX tomorrow after raising $5 million via an initial public offering.

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.

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.