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 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.
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.