Austin Engineering's strategic growth in South America

Austin Engineering (ASX:ANG), a global engineering firm, has announced securing over 100 new truck tray orders in Chile, valued at approximately $35 million, within the first quarter of FY25. These orders, mainly for original equipment manufacturers, mark a substantial increase in production demand.

Austin Engineering's ambitious outlook and production expansion

Austin Engineering's Chilean operations have experienced a significant boost in truck tray orders, prompting a tripling of production rates. Supported by their manufacturing improvement team, Austin aims to meet these demands by early 2025. The company's Chilean business reported a 26% revenue increase in FY24, and with these new orders, FY25 growth is expected to exceed previous levels. Austin maintains its FY25 guidance of $350 million in revenue and $50 million in underlying EBIT, driven by strategic positioning in the high-demand copper-producing regions of Chile and Peru. The company's Austin 2.0 strategy is central to its operational success, ensuring readiness for increased production while emphasizing sustainability and innovation.

CEO insights on strategic investments and operational capabilities

These orders are a testament to our long-term investments in global relationships and operational capabilities. Our Austin 2.0 strategy has been pivotal in this transformation, focusing on customer relations, global integration, and manufacturing readiness for increased production.