16 July 2015

GRIIF helps get Mustang wheels rolling at Carbon Revolution

The Coalition Government welcomes Carbon Revolution’s announcement that it has been chosen by Ford USA to supply carbon fibre wheels to the new Shelby Mustang GT350R vehicle.

Minister for Industry and Science the Hon Ian Macfarlane said that supply of cutting-edge one piece carbon fibre wheels to a global automotive manufacturer was a glowing endorsement for the Geelong-based company.

“This is a great day for Carbon Revolution and Australian advanced manufacturing,” Mr Macfarlane said.

“Funding from the Geelong Region Innovation and Investment Fund (GRIIF) has been very important in helping Carbon Revolution to develop products for the global automotive market.  This is a significant achievement and demonstrates that Australia is continuing to play a very important role in supplying the global auto market,” Mr Macfarlane said.

“I want to congratulate everyone at Carbon Revolution including CEO Jake Dingle and Chair James Douglas on this great home grown success story.  Geelong’s shared history with Ford makes this announcement particularly significant.”

Round 1 of the GRIIF, announced in March 2014, provided $5m in competitive funding to Carbon Revolution towards construction of its $24m purpose built manufacturing facility, along with 108 new jobs.  When at full capacity, this facility will have capacity for commercial scale production of 50,000 carbon fibre wheels a year for supply to the automotive industry.

Federal Member for Corangamite Sarah Henderson said that Carbon Revolution was a shining example of a local advanced manufacturing company competing strongly on the world stage.

“With 500 manufacturers employing some 12,000 people, our region continues to be a leading centre of manufacturing,” Ms Henderson said.

“This contract with Ford is an absolute game changer.  It demonstrates to the world the innovation and enterprise that is being developed in our own backyard,” Ms Henderson said.

“With hopes that this contract and the others that will follow from the global automotive industry will support more jobs growth at Carbon Revolution – from 150 to 300 employees – this global deal is also very important for local jobs.  Already the company has taken on a number of ex Ford and Alcoa employees.”

The $29.5m GRIIF is funded by the Federal Government ($15m); the State Government ($4.5m); Alcoa ($5m) and Ford ($5m).

“Once again, I call on the Victorian Government to make good its election promise to deliver an additional $7.5m to the GRIIF.  Its refusal to hand this money over is very bad for local jobs,” Ms Henderson concluded.

16 July 2015