Precise reason for upgrading facilities

3 Mar 08

Precise Advanced Manufacturing has taken a step away from its reliance on supplying the automotive sector with an upgrade of its Gillman facility.

New precision CNC machining equipment at its Quality Production Engineers site at Gillman was unveiled by Deputy Premier Kevin Foley yesterday.

The company's expansion has been funded with the assistance of a $2 million Innovation and Investment Fund for South Australia federal and state grant.

Precise chief executive Grant Tinney said the new equipment increased the company's presence as a supplier to defence, aerospace, mining, water and renewable energy industries.

Precise bought QPE in December, 2006, reducing its automotive customer base from 87 per cent of its business to about 61 per cent.

``We want to be sub 50 per cent by 2009,'' Mr Tinney said yesterday.

Moves to become an advanced manufacturer in 2002 have proved positive for the company which has since lifted its annual turnover from $5 million to $15 million. Mr Tinney said its plans were to rise to $20 million by 2009.

`Certainly by 2011 we would hope to be beyond $25 million,'' he said, pointing to the air-warfare destroyer project and others it could tender for.

Mr Tinney said the IIFSA grant would allow Precise to increase its staff by 48 across three Adelaide sites in the next five years.

Click here to view Precise Advanced Manufacturing Australia's ManufactureLink Supplier Showroom.

Source: MEREDITH BOOTH
Publication: The Advertiser (069,Thu 13 Dec 2007)

Subscribe free-of-charge to the Advanced Manufacturing Bulletin and be kept informed about manufacturing industry news and new manufacturing technology.