A three million dollar investment is set to build Australia’s manufacturing capability and create around 300 jobs at an advanced technology manufacturer in eastern Melbourne.
Australian advanced manufacturer ANCA is pleased to announce it has received the first round of funding under its Modern Manufacturing Initiative (MMI) grant from the Australian Government.
ANCA will establish a precision manufacturing cell at its Bayswater headquarters, using the grant delivered through the Modern Manufacturing Initiative. The company supplies advanced tool-making machines and technology to aerospace, medical, automotive, and electronic industries, exporting to more than 45 countries.
Assistant Minister for Manufacturing Tim Ayres said he was pleased to announce the grant, delivering this advanced manufacturing capability at a time when building sovereign capability has never been more important. “Over the last decade, Australian exports have slipped down the global value chain as our exports have become less complex,” Assistant Minister Ayres said.
“This grant will enable ANCA to build a new designated precision manufacturing cell and continue enhancing Australia’s sovereign manufacturing capabilities. It will also create an estimated 157 highly skilled jobs during the project and about 330 jobs after five years.”
This grant is under the MMI, which forms part of the Australian Government’s wider $2.5bn Modern Manufacturing Strategy. The funds will be invested in boosting Australia’s sovereign capability with the installation of what they have called the ‘mother machine’ at ANCA’s Bayswater manufacturing facility.
The ‘mother machine’ will enable ANCA to produce a large number of precision parts and tooling with very high accuracy and consistency for the aerospace, automotive, medical device and electronics industries, among others.
ANCA Chief Executive Officer Martin Ripple said the MMI recognises the importance of a healthy manufacturing industry to Australia’s sovereign capability and funds delivered under the scheme will help establish our unique end‐to‐end sovereign industrial capability. The importance of having this expertise was demonstrated in the early days of COVID when ANCA contributed to rapidly manufacturing invasive ventilators within Australia.
“This grant will assist ANCA to establish a fully integrated, precision manufacturing cell at our facility in Bayswater and will create more than 150 highly skilled Australian jobs within the project period and around 330 jobs after five years,” he added.
The Albanese Government has committed $15bn to establish the National Reconstruction Fund, which will support, diversify and transform Australia’s industry and economy.
Modelled on Labor’s successful Clean Energy Finance Corporation, it will be governed by an independent board who will make independent investment decisions.
The Government is targeting $1bn of the National Reconstruction Fund for investments in advanced manufacturing.
“The National Reconstruction Fund is one of the biggest investments in Australian manufacturing capability in living memory,” Assistant Minister Ayres said.
“The Fund will help secure our long-term capability and drive sustainable economic growth by leveraging Australia’s competitive strengths.”