Posts Tagged ‘Manufacturing’

  • ASX Company News: Downer EDI Secures Rail Car Contract

    Thursday, July 21st, 2011

    Downer EDI Limited (DOW) announced  that it had been awarded a contract, through a 50:50 joint venture with Bombardier Transportation Australia, with Western Australia’s Public Transport Authority (PTA) for the supply of passenger rail cars. The value of the contract is more than $160 million, of which Downer’s share is in excess of $80 million. Downer Bombardier will supply 15, three car, single-deck electric trains to grow the PTA’s existing B Series fleet. The trains will be manufactured at Downer’s facility in Maryborough.

    The Chief Executive Officer of Downer, Grant Fenn, said today’s announcement builds on Downer’s strong and long standing relationship with the PTA. “Downer Bombardier has been supplying the PTA with trains since 1991 and we are very pleased to continue our partnership in order to provide essential services to the people of Perth and the state’s growing public transport network.”

    Downer’s Rail division has over 100 years’ experience and is the leading provider and maintainer of passenger and freight rolling stock in Australia. The division’s broad range of capabilities and expertise includes passenger cars, locomotives, freight wagons and light rail. Downer EDI Limited provides comprehensive engineering and infrastructure management services to the public and private Minerals & Metals, Oil & Gas, Power, Transport Infrastructure, Communications, Water and Property sectors across Australia, New Zealand, the Asia Pacific region and the United Kingdom.

    www.downergroup.com

    http://www.traderdealer.com.au/fundamentals/dow

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    ASX Company News: UGL Limited Secures $67 million Locomotive Contract

    Friday, May 13th, 2011

    UGL Limited (UGL) announced that its rail business has secured a new long term maintenance and supply agreement with Genesee & Wyoming Inc. subsidiary, Genesee & Wyoming Australia valued at $67 million. The scope of the agreement includes the supply of 9 x C44ACi locomotives and a five year locomotive maintenance program to support rail haulage from a new hematite iron ore mine under development in South Australia. The haulage service is expected to start in the second quarter of calendar 2012 and continue for a minimum of five years, and it may be extended depending on the development of certain nearby iron ore deposits.

    UGL’s Managing Director and CEO, Richard Leupen, said: “Our rail business continues to strengthen its presence as the leading rail manufacturing and maintenance business in Australia. This new long term contract reaffirms UGL’s position as the leading locomotive supplier in the region. “It is also encouraging to note that as part of this contract, UGL has secured a five-year maintenance agreement which adds to our growing base of recurring and predictable revenue streams. UGL continues to build a sustainable earnings profile by securing a growing number of longer term maintenance style projects.

    UGL Limited (UGL) is an engineering, maintenance and facilities management company operating in the water, power, transport, communications, resources and property sectors. It consists of four divisions – UGL Infrastructure, UGL Rail, UGL Resources and UGL Services. Headquartered in Sydney, Australia, UGL Limited operates in Australia, New Zealand, Asia, North America and the Middle East employing approximately 44,000 people.

    www.ugllimited.com

    http://www.traderdealer.com.au/fundamentals/ugl

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    ASX Company News: Pro-Pac Packaging Acquires SPD International

    Wednesday, April 6th, 2011

    ASX listed national packaging group, Pro-Pac Packaging Ltd (PPG) announced the purchase of the business and assets of the Melbourne based niche bag importer and distributor, SPD International Pty Ltd. The business will be immediately relocated and integrated into Pro-Pac’s new Victorian industrial packaging distribution and manufacturing site in Dandenong. The integrated business will provide the group with an expanded range of bag products and the ability to provide further innovative solutions to existing and new Pro-Pac customers.  The business currently generates turnover of approximately $2.3m per annum and is forecast to be earnings per share accretive in the first year post acquisition. The purchase consideration, related relocation costs and working capital investment will be funded from Pro-Pac’s existing internal cash resources.

    Commenting on the acquisition, Pro-Pac’s CEO, Brandon Penn, said “The SPD International purchase is another exciting building block in Pro-Pac’s continued growth strategy, and this purchase will provide  further access for the cross selling of the group’s product range into several large national customers,  particularly in the retail sector” .

    Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers.  PPG is headquartered in Sydney with operations in Adelaide, Brisbane, Melbourne and Perth. PPG’s securities are listed and quoted on the SX.

    www.ppgaust.com.au

    http://www.traderdealer.com.au/fundamentals/ppg

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    ASX Company News: Quickstep Holdings Passes Key Review By Northrop Grumman

    Monday, November 15th, 2010

    Australian advanced composite component and solutions provider Quickstep Holdings Limited (QHL) is pleased to advise that it has achieved a key milestone with production preparations relating to the international Joint Strike Fighter program, announcing that it has successfully passed the key “Toll Gate” review set by global aerospace corporation Northrop Grumman Corporation.

    This Toll Gate is for Manufacturing Readiness for Group 1 composite parts at Quickstep’s Coogee site in Western Australia and was required for Quickstep and Northrop to progress to final negotiations prior to signing the LTA.

    It was held on-site between 18 and 20 October 2010 and was adjudicated by a Review Panel comprising key members of the Northrop Grumman and Lockheed Martin team.

    The review process required Quickstep to demonstrate that it has processes, procedures and a trained workforce in place and to provide detailed evidence of the readiness of its equipment and facilities as well as an operational demonstration. Quickstep managers and personnel were questioned in detail by the Review Panel during the presentation.  The Toll Gate Criteria were divided into 13 different categories, with a total of 160 items of evidence presented during the Review.

    Quickstep Chief Executive Mr Philippe Odouard said the first Toll Gate review had been highly successful, with the Company achieving an overall rating of 80% with no categories below 50% and most in the 70-90% range.  “For a start-up manufacturing facility this is an outstanding result, which has been achieved in exactly 12 months and on the date we said we would pass it – a great achievement by our staff and a reflection of the enormous dedication and hard work within our organisation,” Mr Odouard said. “Typically, a review of this complexity and stringency would take a lot longer and it is a credit to our team that we have been able to meet all the key criteria on time in such a short space of time.”

    Mr Odouard said the completion of the Toll Gate review effectively gave the green light for the Company to move to the next stage by starting production of Qualification Panels and “building block” activity – that is, production of actual production parts for the F-35 Joint Strike Fighter using tooling provided by Northrup Grumman to demonstrate production-readiness.

    “This is a significant milestone for Quickstep as it demonstrates to Northrop that we are ready and able to deliver the first of the F-35 components and is the last of the capability barriers that stood in front of Quickstep and the signing of the LTA,” he continued.

    In addition to the Toll Gate Review, Quickstep has hosted multiple site visits by various Northrop Grumman staff and experts to assist in guiding the review and qualification process. Quickstep personnel have also successfully completed a Technical Assistance Training course in California at key Northrop Grumman sites for composite manufacture involving a number of Quickstep team members over two weeks.

    The overall Development Program for the JSF manufacturing contracts continues to progress on schedule with agreed deadlines, milestones and now Toll Gates met. Discussions are scheduled to recommence shortly leading to signing of the final Long Term Agreement, with delivery of production parts for Quickstep on schedule in Q1 of 2012. This date has not moved in the past 12 months.

    www.quickstep.com.au

    http://www.traderdealer.com.au/Fundamentals/qhl

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    ASX Company News: Downer EDI Awarded Queensland Rail Upgrade

    Thursday, October 28th, 2010

    Downer EDI Limited (DOW) announced it has been awarded a contract valued at approximately A$190 million to expand and upgrade Queensland Rail’s fleet of high speed passenger tilt trains that service the Cairns to Brisbane rail corridor.

    Downer has previously built tilt trains for Queensland Rail and has been a supplier to, and partner with, Queensland Rail for over three decades.  The two electric tilt trains currently servicing the Brisbane to Rockhampton route were designed and built in Downer’s Maryborough facility in the late 1990s. The two diesel tilt trains currently servicing the Brisbane to Cairns route were also designed and built by Downer about 10 years ago. All these tilt trains use Hitachi technology and are the fastest narrow gauge passenger trains in the world with a maximum speed of 160 kilometres per hour.

    Under the new contract, Downer Rail will rely on these foundations to design and build a next generation diesel tilt train consisting of two power cars and twelve carriages. These new trains and carriages will incorporate Queensland Rail’s stringent safety standards and provide passengers with a new standard in long distance rail travel. In addition, the new contract involves Downer expanding the existing two-train fleet to include ten new carriages.

    Downer Chief Executive Officer Grant Fenn said Downer Rail was the market leader in rolling stock solutions in Australia, with demonstrated expertise in both the passenger and freight markets. “Our Rail division designed and manufactured the two existing Queensland Rail Cairns to Brisbane tilt trains nearly 10 years ago and the new rail vehicles will also be manufactured at our Maryborough facility,” Mr Fenn said.

    Downer EDI Limited is a major ASX listed company that provides comprehensive engineering and infrastructure management services to the public and private transport, energy, infrastructure, communications and resources sectors across Australia, New Zealand, the Asia Pacific region and the United Kingdom.

    www.downergroup.com

    http://www.traderdealer.com.au/Fundamentals/dow

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    ASX Company News: Alexium International Granted Chinese Patent

    Thursday, September 9th, 2010

    Alexium International Group Limited (AJX) is pleased to announce that the Patents Registry for the Hong Kong Special Administrative Region, China has approved its application and issued Patent No. 07110131.2 for the company’s “method of attachment of silicon-containing compounds to a surface”.

    “Asia’s continued economic growth, its increasing dominance in manufacturing and its appetite for cleaner, sustainable, advanced technologies presents excellent opportunities for Alexium. Building a strong, comprehensive intellectual property portfolio around our award winning technology is a critical component of our business strategy and the grant of this patent is an important step forward. ”

    Alexium International Group Limited (AJX) holds proprietary granted patents, exclusive licences and patent applications for a process developed initially in the US Department of Defence , which allows for the surface modification and attachment of nano particles or multiple chemical functional groups to surfaces or substrates to provide functions such as water proofing, oil proofing, anti microbial, non -stick and UV protection. Applications under development include but are not limited to textiles, paints, packaging, glass and building materials.

    www.alexiumgroup.com

    http://www.traderdealer.com.au/Fundamentals/ajx

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    ASX Company News: Autodom Acquires DAIR Industries

    Thursday, September 2nd, 2010

    The directors of Autodom (AIE) are pleased to announce that two of its wholly owned subsidiaries have completed the acquisition of the assets of DAIR Industries, a Victorian based automotive components manufacturer. DAIR is a highly regarded manufacturer of metal pressings and assemblies, injection and blow moulded plastic parts and cables. It is a key supplier to the Australian car manufacturers, in particular Ford and Toyota. Like Autodom DAIR has been active in recent years in acquiring and consolidating other component manufacturers. The addition of DAIR’s revenue base of $45m will see the total revenue for Autodom approximating $120m in the current financial year. There are considerable synergistic benefits to the acquisition and it will have an immediate positive impact on aiA’s earnings.

    The acquisition was completed at a purchase cost of $9.9m plus the assumption of approximately $3.3m in liabilities related to employee entitlements. Funding was provided by a combination of a $5m bridging loan provided by a Director of the Company, a grant from the Automotive Industry Structural Adjustment Program (AISAP), vendor finance and a small machinery lease package.  The bridging loan, which is at arms length and on commercial terms, will be repaid via a fully underwritten rights issue to be undertaken in the next few weeks.

    The acquisition of DAIR will have many positive consequences for Autodom and its subsidiary aiAutomotive including a return to a level of revenue that enables profitable operations. This will counteract a decline over the past 3 years the addition of a highly competent and successful management team, a more even spread of business between the three Australian car manufacturers and new business development opportunities, a more diverse product range offering valuable synergies to operations across 5 plants in South Australia and Victoria . Autodom plans to focus its activities in the current financial year on successfully integrating DAIR with aiAutomotive and ensuring all available synergies and opportunities are achieved.

    www.autodom.com.au

    http://www.traderdealer.com.au/Fundamentals/aie

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    Quickstep Holdings Secures US Defence Contract

    Friday, March 19th, 2010

    Australian advanced materials company Quickstep Holdings Limited (QHL) has taken another key step towards securing manufacturing contracts under the international Joint Strike Fighter (JSF) program, today announcing that it has signed a Manufacturing License Agreement (MLA) with global security company Northrop Grumman Corporation, a subcontractor to Lockheed Martin Corporation in the design and manufacture of the centre fuselage for the F-35 Lightning II aircraft. Quickstep signed a Memorandum of Understanding (MOU) with Lockheed Martin and Northrop Grumman in November 2009 to finalise a Long Term Agreement (LTA) for the manufacture of up to A$700 million worth of contracts for JSF. The signing of this MLA provides Northrop Grumman with export approval from the U.S Department of State to begin transferring to Quickstep technical information necessary for the manufacture of the parts to be produced under the MOU.

    Under the terms of the MOU, Quickstep would supply 21 different F-35 components. The parts would then be exported to the United States for incorporation into F-35s globally. The manufacturing program is planned to last between 20 and 30 years and generate annual turnover of up to $50 million by 2015.  Preparations for the start of manufacturing are progressing in line with the timetable agreed to with Northrop Grumman, with Quickstep proceeding well with the employment of new key staff members and the acquisition of necessary equipment to be able to commence production as planned in 2012. Preparation for parts and process qualification prior to production is also proceeding on schedule.

    Commenting on the announcement, Quickstep Chief Executive Philippe Odouard said: “The signing of this Manufacturing License Agreement will establish an essential transfer of data between Quickstep and Northrop Grumman to enable Quickstep to complete the final preparations for the planned signing of the Long Term Agreement for F-35 manufacturing in the second quarter of 2010. This is a key step for Quickstep along the road to aerospace manufacturing.”

    www.quickstep.com.au

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    Advanced Engine Components Receives Indian Government Approval

    Thursday, February 18th, 2010

    Advanced Engine Components Limited (“ACE”) is pleased to announce the naturally aspirated compressed natural gas (“CNG”) engines, developed in conjunction with SHIGAN Quantum Technologies Pvt Ltd (“SQT”) in India, have successfully completed the Bharat Stage IV (“BS IV”) emission testing.

    BS IV certification is controlled by the Indian Government’s Ministry of Heavy Industries & Public Enterprises Automotive Research Association of India (“ARAI”). The certification is equivalent to Euro IV European Transient Cycle (“ETC”) certification.

    Performance testing of vehicles using the naturally aspirated CNG engines has been conducted in parallel with the certification process. With performance testing and certification complete, ACE will proceed to fulfil the initial request to supply electronic control units (“ECU’s”) and injectors for over 1,000 engines. Deliveries will commence in June 2010.  ACE’s development and certification of the four and six cylinder, turbo charged, CNG engines will be completed after commercial production of the naturally aspirated CNG engines has commenced.

    ACE supplies natural gas vehicle system (“NGVS”) components for use in China, Thailand, Indonesia, France and Australia. These initial orders for India provide ACE with its fastest “roll out”, in terms of vehicle numbers, of any country to date.

    The technical success and quality of ACE’s personnel and components has introduced new engine development opportunities within India. With additional working capital available from the recent share placement, the proposed rights issue and the restructured debt facilities, ACE will be able to pursue these opportunities in an efficient and timely manner as well as servicing all existing contracts.

    India has the world’s fifth largest fleet of natural gas vehicles (“NGV”) in the world. More importantly, India has over 220 cities planned for CNG development with a nationwide distribution pipeline by 2012. The CNG pipeline will stretch 12,000 km, connect 15 states and reach a population of 160,000,000 people. As a result, India is recognised as having the highest NGV growth potential in the world. The expanded ACE Board recognise the opportunities in India and will use the current success to continue the market momentum.

    www.advancedengine.com

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    Ausmelt Receives A Higher Takeover Offer

    Monday, December 14th, 2009

    Further to the announcement yesterday that Outotec has made a takeover bid for Ausmelt at $0.85 cents per share, Ausmelt Limited (AET) overnight has received a further non-binding indicative proposal (Indicative Proposal) for an off-market takeover offer for all the shares in Ausmelt at $1.00 per share.

    The latest Indicative Offer is from a large International Industrial Group. This Group has advised Ausmelt that it is prepared to make a binding offer for $1.00 per share subject to the outcome of due diligence. A team of their people and consultants are expected to arrive in Melbourne on Monday, 14th December 2009 to commence due diligence.

    The Group has further advised Ausmelt that subject to satisfactory due diligence, the Group will commit to proceed with a binding offer by 22nd December 2009.  There is no guarantee that the Group will proceed with its Indicative Offer and, as indicated above, it is subject to satisfactory due diligence of Ausmelt. However, as the Indicative Offer price of $1.00 is significantly in excess of the Outotec takeover price of $0.85, the Board recommends that shareholders do not sell or deal in their Ausmelt shares until further update from the Company.

    Ausmelt will keep shareholders fully informed on any further developments.

    www.ausmelt.com.au

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