Market News

Tritium, a Brisbane-based manufacturer of electric vehicle chargers, has generated $57 million in revenue from 1 January 2023 to 30 April 2023, reflecting a year-over-year growth rate of 237 per cent from last year’s $17 million profit. 

The market for high-performance plastics used in 3D printing is expected to expand significantly between 2023 and 2029, with a compound annual growth rate (CAGR) of 8.45 per cent, reaching a value of USD 184.5 million by that year, according to market research firm BlueWeave Consulting.

Element 25, a producer of manganese concentrate in Western Australia, has partnered with General Motors to support the production of over 1 million electric vehicles (EV) in North America.

Drone manufacturer Mobilicom has continued to fulfil existing contracts and advance potential sales of its mobile ground control system with AUD 1.2 million new orders in Q1 FY23 from over 50 per cent of Tier-1 drone manufacturers.

Defence industry company XTEK has updated its FY23 results guidance, anticipating record revenues for FY23 of between $86 million to $88 million up by circa 50 per cent compared to the previous recorded revenue of $58.2 million. 

Orbital UAV has begun the delivery of engine builds for Insitu Pacific’s next-generation tactical UAS for the Australian Army.

CSR Limited, a major Australian industrial company, has reported a net profit after tax (NPAT) of $225 million for the fiscal year ended 31 March 2023, up 17 per cent from $193 million the previous year. 

Australian building products company CSR Limited has agreed to acquire Woven Image, a leading company in sustainable design-led acoustic finishes and textiles for $43 million. 

Australia’s manufacturing sector remained in contraction in October, with declining new orders, rising input costs and worsening supply conditions contributing to another month of reduced production, according to the latest S&P Global Purchasing Managers’ Index (PMI).

Weak demand in the Australian manufacturing sector has driven the country’s Purchasing Managers Index (PMI) to a 35-month low, according to the latest data from Judo Bank.