CST Composites secures AUS$1.4 million funding

1 min read
From left to right, Clive Watts, MD of CST Composites and Scott Morrison MP.
From left to right, Clive Watts, MD of CST Composites and Scott Morrison MP.

Advanced carbon fiber filament winder and pultruder, CST Composites has received a AUS$1.4 million (US$1 milion) grant from the Australian government as a part of a AUS$5.7 million (US$4 million) project investment to increase production capacity, continue development of its filament winding process technology, and enter new markets.

The grant was a part of the Australian Government’s AUS$50 million Manufacturing Transition Program that helps manufacturing businesses become more competitive and sustainable, enabling a move or expansion into higher value or niche manufacturing activities.

‘This grant will support CST Composites to increase its capacity, employ more people and develop further innovations in both niche and mainstream markets,’ said Australian Federal Minister Hon. Scott Morrison MP, who visited the company.

Larger markets

‘We have invested heavily over many years to develop our filament winding technology and automation, and this grant support and investment enables us to take the next step in growing our business,’ said CST Composites MD Clive Watts. ‘The timing of the grant is also important, as we have just acquired a second larger production facility, which allows us to achieve greater economies of scale and gives us increased capacity. This will enable the company to continue its push into new larger markets including automotive, oil and gas, mining and defence. Further to that, a weaker Australian dollar has seen demand increase from overseas companies as buying from Australia becomes even more attractive.’

This story is reprinted from material from CST, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.