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Manufacturing update 6

by Stephen Montague

Manufacturing Update

Cochlear may move R&D budget overseas

  • Hearing implant maker Cochlear could shift its research and development out of Australia because of cuts to tax incentives.
  • Chairman Rick Holliday-Smith says Cochlear, which in August reported a record full-year profit of $189 million, has until recently received an annual benefit of about $10 million under the research and development tax incentive.
  • Holliday-Smith said that Cochlear spent $143 million, or 12 per cent of its sales revenue, a year on R&D.

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Orora plans further US acquisitions

  • Orora’s annual general meeting heard that the company expects to continue growth through acquisitions and that first-quarter results were beating expectations.
  • The company recorded an increase in full-year profit last year of 28.3 per cent to $168.6 million, out of revenues of $3.85 billion. 49 per cent of total sales were in North America.
  • Nigel Garrard, CEO, said that growth initiatives underway included boosting capacity at its key production sites, and acquisitions in North America.

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Swinburne to open advanced manufacturing research centre in Shandong

  • Swinburne University of Technology have announced an advanced manufacturing centre, to launch early next year.
  • A statement from Swinburne said the joint research centre at WZ’s technological park would focus on the areas of automation and mechatronics, 3D printing, biomedical devices and medical manufacturing, electronics manufacturing, and advanced materials.

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Kennards Hire appoint new CEO

  • Kennards Hire has announced the appointment of Angus Kennard as its new CEO, effective 24 October 2016.
  • Kennard has been a key member of the Kennards Hire board and leadership team since 2005, and recently celebrated 20 years directly involved with the company.
  • “Angus was chosen in a robust and thorough selection process,” says Kennards Hire Chairman Brendan Fleiter. “He is ideally suited to grow and develop the business while ensuring it remains true to the cultural values that have made it successful.”

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Toyota Prius recall affects 300 Australian vehicles

  • Toyota has recalled 340,000 Prius vehicles worldwide, with 300 of these affected vehicles in Australia.
  • AAP reports that the problem relates to a parking brake cable, which can disengage without warning, with a chance the vehicle could roll away when parked due to this.
  • “To rectify this condition, parking brake cable clips will be installed on all impacted vehicles,” the car maker said in a statement.

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For further industry insights, get in touch with Stephen Montague on stephenm@sixdegreesexecutive.com.au