Federal Member for Corangamite Sarah Henderson has welcomed the Australian Government’s investment of $1.45m to assist local automotive component manufacturers MHG Glass and Backwell IXL to diversify and create new jobs.
“This is fantastic news for the Geelong region and demonstrates our government’s commitment to supporting the future of automotive manufacturing in our local area,” Ms Henderson said.
The Government’s investment supports investments of $3.92m from MHG Glass and $900,000 from Backwell IXL and is part of more than $17.6 million in project investments for nine Australian automotive component manufacturers as they move into new industry sectors.
Minister for Industry and Science Ian Macfarlane announced that almost $5.7 million in Government support will generate a total of $17.6 million in investment, to help firms diversify into new markets such as food packaging and aerospace.
Nine businesses will receive grants ranging from $109,000 to $1 million from Round Two of the Automotive Diversification Programme to complement contributions by each recipient.
Details of the local projects are as follows:
- MHG Glass (North Geelong) which will receive $1m towards a $3.92m project developing a new architectural glass processing business leveraging existing skills and capabilities
- Backwell IXL (South Geelong) which will receive $450,000 towards a $900,000 project to further develop an innovative fast mounting system for commercial solar rooftop application
Ms Henderson said this Automotive Diversification Programme funding was part of the Australian Government’s $155 million Growth Fund.
“This funding is critical for companies to grow their business and plan for their futures, while also retaining important skills and jobs in the Geelong region,” Ms Henderson said.
“It is part of the Australian Government’s suite of industry and manufacturing programmes dedicated to ensuring a strong and sustainable manufacturing industry in Australia.”
The next round of the Automotive Diversification Programme opened on August 3, with applications closing on September 17.
Further information on the programme and a list of the investments can be found at www.business.gov.au/ADPRecipients.
3 August 2015