Local defence manufacturers secure funding
South Australian companies Novafast and Abstec Calibrations have secured their share of $8 million in Federal Government funding to boost local defence manufacturing capability. The Adelaide businesses are among 11 innovative Australian companies to receive funding through the latest round of the Sovereign Industrial Capability Priority (SICP) grants, which help build Australia’s sovereign industrial capacity to support the Australian Defence Force. Recently diversifying into the defence sector, Novafast was awarded over $1.3 million to support the creation of a new state-of-the-art production line. The factory is set to include new robotics equipment for manufacturing technologies in composite products. Novafast Business Manager David ...