Salary increase for FMCG manufacturing workers
- Australian salaries are set to increase by 2.8 per cent this year, according to the Australian Institute of Management (AIM)’s annual salary survey.
- This figure has fallen from 4.1 per cent growth in 2012.
- Considering how tight profit margins are in FMCG manufacturing, the predicted salary increase came as a surprise.
Grocery, food accelerate Australia’s manufacturing industry
- Australia’s $126 billion food, beverage and grocery industries have significantly increased by more than 30 per cent in seven years, from 2007 to 2014.
- “Employing over 300,000 Australians, the sector’s Industry Value Add of $29 billion was almost three times higher than the next largest manufacturing subsector – machinery and equipment and fabricated metal.” Said AFGC Director of Economics Tanya Barden.
- “While domestic conditions remain challenging, food and grocery processing is an area of strong export growth with an 11% surge in food and beverage exports to $26bn last year. These results show a huge potential for future growth.”
Calls for caution after 40,000 manufacturing jobs boost in Australia
- Around 40,000 new manufacturing jobs – recorded by the Australian Bureau of Statistics (ABS) – were presented in a recently published paper at the Manufacturing Matters conference held at Parliament House, in Canberra, on Wednesday.
- Co-authored by Jim Stanford and Tom Swann at the Centre for Future Work and the Australia Institute, the paper Manufacturing: a moment of opportunity offers promise of a brighter future for the industry in Australia.
- The paper reviews the qualitative features as to why manufacturing is a “strategically important sector” and argues that the industry should be an “active target for policy” within Australian leadership.
Bega raising $160m from share market
- Just ahead of its $460 million takeover of the Mondelez spread business, Bega Cheese is launching a $160 million capital raising to shore up it capital base.
- Bega says it wants to be prepared to take advantage of future food and dairy growth opportunities and hopes to raise about $122.5m from an institutional placement.
- “This capital raising gives us the financial strength and flexibility to grow our dairy and food businesses as part of our vision to be a great Australian food company,” said executive chairman, Barry Irvin.