Off the wire
• Public support for Austaliann gov't falls: poll  • Vietnam reports nearly 8,000 workplace accidents in 2016  • Afghansitan, Australia share "strong bond": Ausssie PM  • Xinhua world news summary at 0100 GMT, April 3  • Tokyo stocks open higher as investors buy on dips  • Dollar changes hands in lower 111 yen range in early trade in Tokyo  • Australia's Melbourne CBD security to be improved after motorist rampage  • Four in five Australians not eating enough fruit and vegetables: research  • Italian Serie A results  • Italian Serie A standings  
You are here: 　 Home

Aussie state to economically benefit from President Trump's defence spending

Xinhua, April 3, 2017 Adjust font size:

U.S. President Donald Trump's promise to "rebuild" his country's military could have significant economic benefits for Australian state Victoria, it has been revealed.

Six Melbourne-based companies will this week lobby the Trump administration for lucrative contracts in an attempt to grab a piece of the 70 billion U.S. dollars funding increase.

The companies will appeal for the contracts as Christopher Pyne, Australian minister for defence industry, prepares to speak to senior U.S. defence officials and members of Congress about Australian manufacturing.

The defence industry currently contributes 6.1 billion U.S. dollars to the Victorian economy every year, employing more than 7, 000 people.

Marand, a manufacturing company based 30 km southeast of Melbourne in Moorabin, is expected to generate 750 million U.S. dollars in revenue from its part in the Joint Strike Fighter (JSF) program, for which it produces vertical tails.

Sentient Vision, based in Port Melbourne, is another company competing for the contracts, with the technology company having previously impressed the Royal navy and British government with its Visual Detection and Ranging (ViDAR) technology which detects small objects on the ocean's surface.

The Victorian government has pushed manufacturers towards the defence industry market following the demise of automotive manufacturing in Australia.

The federal government has invested 150 billion U.S. dollars in local defence capability in the last 10 years.

Pyne, who will be the keynote speaker at the G'Day USA: US-Australia Dialogue on Defence Industries event, said the investment has been a key part in increasing Australia's defence exports.

"This will be an excellent foundation for us to grow our exports in defence industry, with close allies such as the United States a prime focus of local Australian companies," Pyne told News Limited on Monday.

Among the other companies hopeful of getting the U.S. contracts is Integra Packaging which produces crates, boxes, anti-corrosive shrink wrap and reusable packaging for over 500 clients in the defence sector. Endit