A leading advanced manufacturing company in Melbourne’s south-east has secured a Federal Government grant of more than $1 million to help it grow its defence work.
Australian Precision Technologies (APT), located in Berwick, is one of several businesses to benefit in the latest round of the Government’s Sovereign Industrial Capability Priority (SICP) grants program.
Minister for Defence Industry Melissa Price said this $1.05 million grant would help APT, a precision engineering specialist, expand its operation supporting equipment across the Australian Defence Force.
“This SICP grant will support APT’s expansion and update its capability in precision machining and milling,” Ms Price said.
“They are both important pieces of the advanced manufacturing capacity required by our growing defence industry.
“The funding will support the purchase of equipment and the construction of a purpose-built clean assembly room.”
Already, APT has hired three new staff in its assembly area and engaged a student on placement, with another student to start this month.
Ms Price said she wanted to see more Australian businesses like APT benefit from the Government’s SICP grants program.
Federal Member for La Trobe, Jason Wood, said: “Located only in our backyard in Berwick, APT is another local business thriving as a result of the Morrison Government’s support for our defence industry.
“Having visited the business myself, I know that this grant is a huge vote of confidence in the future of the business and importantly, local jobs.”
Eleven companies have received grants in the latest round of SICP grants.
Since the grants program’s inception in November 2018, 99 grants have been awarded to Australian small and medium businesses, with a combined value of $55.6 million.
Grant applications can be made at any time and submitted through the Centre for Defence Industry Capability at: https://www.business.gov.au/Grants-and-Programs/Sovereign-Industrial-Capability-Priority-Grants.
