Jun 24, 2018 Last Updated 1:01 PM, Jun 14, 2018

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Stokes Limited exits manufacturing industry

AusBN – One of Australia’s oldest manufacturers Stokes Limited has exited the industry with the A$5 million sale of its appliance parts and service divisions.

The company is hoping to use the sale to explore the technology industry.

Con Scrinis acquired the company two and a half years ago and he has said that this sale was part of his plan when he took over the company.

He said: "When we came to Stokes we wanted to fix up Stokes. That was our main concern.

"I couldn't have written a script back then that this is what we would be doing now."

Scrinis added that the expansion of Stokes’ technology division was an organic process spurred on by the hiring of his old staff.

He added: "We have been able to grow Stokes' market cap from $1 million to $15 million in two-and-a-half  years.

"We have got where we are because we have enhanced shareholder value along the way."

@AusBNOnline

MTP awards $50m to 19 successful applicants

AusBN – Through the first round of the Manufacturing Transition Programme (MTP) 19 successful applicants have been awarded nearly A$50 million.

The successful applicants came from a range of different industries including food and beverage, mining, aerospace and medical technologies.

Grants were awarded in line with the election pledge, which stated focus would be placed on “areas of competitive strength”.

One of the successful applicants was Bega Cheese and Eden Monaro MP Peter Hendy said: “Bega Cheese will be able to invest in more sophisticated and knowledge-intensive manufacturing, creating high value jobs in areas where the greatest economic opportunities exist.”

Bega’s project focused on investment in new equipment to improve production of lactoferrin from milk solids.

@AusBNOnline

Life Health Foods opens NSW manufacturing facility

AusBN – Life Health Foods new 6,000 square metre factory has started operations in Berkley Vale, New South Wales.

Frozen, chilled and canning technologies are all in use at the new facility, which will be used to create the company’s range of plant-based meal products.

Karen McNamara MP, who is a Federal Member for Dobell, officially opened the factory.

McNamara said: “It is fantastic to be opening a new manufacturing facility here on the Central Coast which will provide a boost to employment opportunities for local residents.

“It is exciting to see innovative manufacturing deciding to call the Central Coast home.

“It demonstrates that the Central Coast is a region that can support manufacturing and builds upon the success of other major companies, including Sanitarium, a local employer of choice.”

@AusBNOnline

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