$17.6 million to drive diversification in the automotive supply chain
3 August 2015
More than $17.6 million will be invested in nine Australian automotive component manufacturers as they move into new industry sectors.
Minister for Industry and Science Ian Macfarlane announced that almost $5.7 million in Australian Government support will generate a total of $17.6 million in investment, to help firms diversify into new markets such as food packaging and aerospace.
Nine businesses will receive grants ranging from $109,000 to $1 million from Round Two of the Automotive Diversification Programme to complement contributions by each recipient.
Successful applicants include:
- Cutler Brands Pty Ltd in Kilkenny, South Australia – $1 million towards a $2.1 million project to develop a new high-speed production line that integrates multi-colour direct printing and plastic shrink sleeve production, targeting the food, beverage and cosmetics sectors;
- Numetric Manufacturing Pty Ltd in Wingfield, South Australia – $265,577 towards a $751,155 project to develop an advanced manufacturing cell with aerospace semi-finishing production capability for Australian made tail fins for the F-35 Joint Strike Fighter Program;
- Venture DMG Pty Ltd in Keysborough, Victoria – $498,993 towards a $997,986 project to create new hybrid shopping trolleys which will be made from steel and injection moulded plastic capturing the latest global trend in shopping trolley design and manufacture.
Mr Macfarlane said this Automotive Diversification Programme funding was part of the Australian Government’s $155 million Growth Fund.
“This funding will allow firms to shift their focus and plan for the future, while ensuring skills and jobs in Australian manufacturing are retained,” Mr Macfarlane said.
“This is central to our commitment in ensuring a strong and sustainable manufacturing industry in Australia.”
Round Three of the Automotive Diversification Programme opens today, with applications closing on September 17.
More information on ADP Round 2 can be found at www.business.gov.au/ADPRecipients.
Media contact: Mr Macfarlane's office 02 6277 7070