The debate over subsidies to the automotive sector continues, with opposition leader Tony Abbott yesterday suggesting that he wants to see the country’s car manufacturers’ exports improve.
Ian Thomas, the president of Boeing Australia & South Pacific and the head of Prime Minister Julia Gillard’s Manufacturing Leaders Group, has spoken out in favour of taxpayer support for automotive manufacturers and their contribution to the sector’s “ecosystem”.
Mike Devereux, chairman of GM Holden, has refused to guarantee employment for Holden workers in exchange for government assistance.
The level of government support given to Australia’s auto industry has been defended after Holden announced that it was making 500 positions redundant, a quarter of its workforce.
At least $200 million will be invested into early stage, high growth Australian companies by three new venture capital funds supported by the federal government’s Innovation Investment Fund (IIF).
When a new variety of Huggies nappies start filling shelves in supermarkets this month, most shoppers will have no idea about the impressive innovation and collaboration efforts behind them.
Signostics, an Adelaide manufacturer of ultrasound technology, has gained a global distribution deal with Konica Minolta Medical & Graphic for its new Signos RT ultrasound product.
Syntec, Australia’s largest diamond tool maker, will relocate its Chinese manufacturing operations over the next few months, operating at a former Berri juice factory in South Australia’s Riverland.
Two of Australia’s three car manufacturers, GM Holden and Toyota, yesterday admitted that they could seek further taxpayer assistance.
The Australian Manufacturing Technology Institute Limited (AMTIL) has secured a funding extension for its Enterprise Connect contracts.
A report released recently has stated that the high Aussie dollar is to be blamed for the decline in Victoria’s economic growth, and the manufacturing and construction industry in the state will continue to be faced with challenges until next year.
‘Australian manufacturing industry was suffering,’ David Ferguson general manager of Victoria’s largest privately owned steel distributor Surdex Steel said.
Almost six in ten small and medium-sized businesses are dissatisfied with the support they receive from the federal government, according to a recent report by business software provider MYOB.
The Federal, South Australian and Victorian Governments have announced a $275 million co-investment that will help keep GM Holden’s car making operations in Australia.
Businesses in the textile, clothing and footwear (TCF) industry can partner dollar-for-dollar with the Gillard Government and apply for a grant of $250,000 or more to help build a stronger and more resilient sector.