The State Government has provided an advanced manufacturing business with $47,500 to help it shift from the mining sector into new business opportunities in the medical technologies sector.
Torrensville-based Plastico and Hackett Engineering has identified new opportunities to manufacture medical device components and is now making complex orthopaedic screws for another South Australian company, Austofix – a manufacturer of innovative orthopaedic implants.
Prior to moving into the medical technologies sector, Plastico and Hackett manufactured mining equipment.
The Business Transformation Voucher Program allowed Plastico and Hackett to undertake a review of its engineering plant layout, production equipment and operating efficiencies.
The $4.5 million Business Transformation Voucher program helps local manufacturers invest in projects that will substantially transform their businesses, increase productivity, competitiveness and improve their prospects for long-term growth.
Funded under the Building a Stronger South Australia: Our Jobs Plan, the program helps businesses identify opportunities for long-term growth through independent business advice, which can be prohibitively costly for many smaller firms that represent 98 per cent of all businesses in South Australia.
Funding is competitive and requires matched contributions from firms.
Quotes attributable to the Manufacturing and Innovation Minister Kyam Maher
Through the Business Transformation Voucher program, the State Government is helping eligible manufacturers diversify into new products and markets and improve their productivity.
I congratulate the latest round of Business Transformation Voucher recipients who are actively looking for ways to innovate and grow their business, creating jobs for South Australians.
We are seeing more businesses like Plastico and Hackett exploring new ideas to help meet increased demand for high-quality manufactured, South Australian products.
Quotes attributable to Plastico and Hackett Engineering Managing Director David Schiller
Our highest priority is to be able to increase capacity to meet our customer requirements in a managed and validated way.
The medical devices sector in South Australia is burgeoning and our reputation is growing in the industry.
This State Government grant will help us to develop new products that are high value and will help the company expand into the growing medical technologies sector.