A Castlemaine-based rail manufacturer will invest in new equipment that could double the company’s productivity, thanks to a $175,000 grant from the Victorian Government’s Future Industry Manufacturing Program.
Vossloh Cogifer, a subsidiary of Vossloh (AG) Germany, will use the funding the purchase a Computer Numerical Control operated rail milling machine that will more than halve the time it takes the company to create components for rail networks, specifically long rails and switchblades for turnouts, and will nearly double the company’s productivity.
Visiting the company’s premises on Wednesday, the state minister for industry and employment Ben Carroll said the investment will enable the company to establish itself as the only turnout manufacturer in Victoria, and one of only two operating on Australia’s East Coast.
“Victorian manufacturing has a bright future and it’s forward thinking regional companies like Vossloh Cogifer that are investing in new technology and looking for ways to boost their efficiency,” the Minister said.
Member for Bendigo West Maree Edwards, who accompanied Mr Carroll on his visit to Vossloh Cogifer, said the investment will generate 10 new jobs for engineers, machine operators and support officers.
The future industry program forms part of the Victorian Government’s support for manufacturing, including $120 million in funding, creating over 5,000 jobs and driving more than $1.4 billion in private investment.