June 1, 2018
May marked the longest run of expanding or stable conditions for the Australian PMI since 2005, with the longest positive run being 50 continuous months from July 2001 to July 2005. Five of the seven activity sub-indexes in the Australian PMI expanded in May. New orders edged up 0.8 points to 62.4, indicating healthy demand and a strong likelihood of further near-term growth, while sales levels were stable (down 12.1 points to 50.4). Seven of the eight manufacturing sub-sectors expanded in May (based on trend data), with the wood & paper products sub-sector’s stable conditions the only exception (down 0.6 points to 49.4). Sub-sectors providing manufactured goods for large transport projects and the construction sector continue to report very strong levels of activity: petroleum, coal & chemicals (down 0.9 points to 64.2); metal products (down 0.2 points to 61.4); machinery & equipment (down 0.3…
June 1, 2018
Whenever a company identifies a requirement for a new machine tool, most workshop managers start thinking about accuracy and reliability, whereas the company accountant may believe that price and lifespan are the most important criteria. The result is often somewhere in the middle – ideally, a brand new machine that is engineered and built for reliability, with a world-class control, and operator training to ensure accuracy, while meeting the initial budget and amortisation parameters set by the accountant. Even though machine tools and their electronic systems have become remarkably sophisticated nowadays, good planning makes it possible to acquire a new machine that meets the needs and wants on a workshop manager’s wish list. The recent purchase of a new CNC lathe by Drilltechniques is a good example. What is really interesting is the rationale behind the acquisition. Hitting the front In just 10 years, Drilltechniques has become a byword for excellence across a number of…
June 1, 2018
The State Minister for Industry and Employment Ben Carroll presented the inaugural Woman Manufacturer of the Year award to Vanessa Kearney from Viva Energy and Jill Walsh from Actco Pickering Metal Industries at the awards ceremony, held at Crown Palladium in Melbourne. The Young Manufacturer of the Year Award was taken out by another female trailblazer, Vanessa Katsanevakis, who won the award for her leadership at Sussex Taps. Katsanevakis guided the business through a major rebrand and a period of exponential growth. The Hall of Fame Gala Dinner was attended by hundreds of industry stakeholders, and recognised outstanding manufacturing businesses and individuals. The Manufacturer of the Year (Large Business) was awarded to Bosch Australia, while Siemens took out the new Leader in Industry 4.0 award and PACCAR Australia was awarded the 2018 Leader in Workforce Skills Development. A number of other companies were also recognised with awards for excellence in some of Victoria’s key growth sectors, including: Creature Technology – Medium Business Osteon Medical – Small Business Entegra Signature Structures – Construction Technologies Albins Performance Transmissions…
June 1, 2018
“After 14 years running this great organisation, it’s time to do a little less and give someone else a run,” said Harrison. “We’ve come a long way over that time and I’m very proud of what we’ve been able to achieve. “Australia’s strong nation brand is a great asset for our business community and our economy, but the challenge always is to make that connection. That is exactly what the Aussie Made logo was created to do 32 years ago and, I am pleased to say, is doing so even more powerfully today. The logo is a well-known and trusted symbol by consumers the world over who are looking to buy genuine Aussie products. “It’s been an honour to have been able to lead the Australian Made Campaign and I am thankful to the Board for giving me that opportunity. Although stepping down as Chief Executive, I will of…
June 1, 2018
Budget papers released on 8 May reveal that R&D Tax Incentive claimants including SMEs and the start-up sector may be faced with additional compliance burdens. Under the new measures, which come into effect on 1 July, there will be additional funding for enforcement activity allocated to the Tax Office and AusIndustry. Jack Qi, Director of Tax Services and R&D specialist at William Buck, says that while at first glance SMEs and start-ups may have been spared the brunt of the tightening of the R&D Tax Incentive, compliance changes could have the biggest impact. “Given that such activity has already ramped up in recent years, any further focus will mean it’s more important than ever to prepare robust R&D claims and quality, contemporaneous internal documentation that will withstand scrutiny,” says Qi. “From a cash flow perspective, we anticipate potential delays in companies receiving their R&D refunds until any review is finalised.” Qi warns the Government against making any more changes to the R&D Tax…
