BEGA Cheese will be investing in a $20million project to advance its manufacturing capability, with the support of a $5million grant from the Australian Government’s Manufacturing Transition Program.
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Bega Cheese will purchase plant and equipment to increase production of lactoferrin from existing milk solids received for the Asian export market.
Announcing the investment Member for Eden-Monaro Peter Hendy said the program was part of the Federal Government’s commitment to ensuring a secure future for manufacturing in Australia by focusing on areas of competitive strength.
“This investment will enable successful Australian manufacturers like Bega Cheese to transition to high-value, knowledge-intensive manufacturing,” Dr Hendy said.
“Bega Cheese will be able to invest in more sophisticated and knowledge-intensive manufacturing, creating high value jobs in areas where the greatest economic opportunities exist.
“Bega Cheese are backing themselves by also investing their own dollars and are carving their place in a changing global market.”
Nationwide, over a quarter of a billion dollars will be injected into Australia’s advanced manufacturing, with more than $200million invested by Australian manufacturers and $50million from the government.
This highly competitive program supports transformation to build Australia’s manufacturing capability for the future.
Of the 79 businesses that applied for funding, 19 received between $1million and $5million.
The funded projects will drive investment in new capital equipment and improvements to plant and processes, which will deliver growth that builds on Australia’s competitive advantage.
“This Manufacturing Transition Program complements a range of other initiatives that together provide the right policy settings to facilitate investment and improve the competitiveness of Australian manufacturing,” Minister for Industry and Science Ian Macfarlane said in support of the program.
Successful projects were awarded through a highly competitive, merit-based process, and based on advice from an expert technical committee to ensure the projects have a sound commercial basis.
Further information on the Manufacturing Transition Program can be found at www.business.gov.au/MTP.
