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Press release

Congratulations to RUD Australia

Congratulations to RUD Australia, successful applicant in the final round of the Federal Government’s Sovereign Industrial Capability Priority Grant (SICPG) Program – with the third largest grant award. 

The SICPG Program helps Australian businesses develop capabilities critical to Australia’s Defence sector, making investments aligned with the Defence Industrial Capability Plan’s Sovereign Industrial Capability Priorities. 

RUD Australia is a subsidiary of the globally renowned RUD Group, manufacturing and supplying high-quality round steel link chain solutions and lifting technologies. RUD Australia also engineers and manufactures tailored solutions to industry-specific material handling problems. The grant funding will support the purchase of a $1m automated robotic welder to be used to manufacture products for the Australian defence sector. 

Grant Thornton was proud to support RUD Australia in this grant application, opening doors for businesses like RUD Australia eager to develop bespoke products aligned to Australian defence force needs. 

“As a business with in-house engineering capability, RUD Chains can deliver concept-to-completion precision engineered fabrication solutions onshore in Australia. Their commitment to excellence is reflected through rigorous in-house testing capability, where their fabrications are regularly assessed as exceeding industry quality and structural integrity standards. We commend the Federal Government’s support for RUD Australia and its project. In line with the 2024 National Defence Strategy’s emphasis on bolstering domestic manufacturing capabilities, we look forward to supporting companies servicing the defence sector to access the new Defence Industry Development Grant program,” stated Simone Barker, Innovation Incentives Director.

Luke Jeffery, CFO at RUD Australia says, “We were referred to Grant Thornton by a business in our supply chain. The government grants team had successfully supported them to access funding through the Made in Queensland program. Working with them was a great experience. Their knowledge of government policy and ability to draw out and highlight the relevant project elements was commendable. What stood out was their methodology to quickly and accurately capture critical project information from us, the subject matter experts. The compelling and comprehensive grant application prepared obviously hit the mark.”

Funding for defence 

With the 2024 National Defence Strategy released in April this year, the Albanese Government is investing an additional $5.7 billion over the next four years and $50.3 billion over the next decade in Defence funding. 

The new Defence Industry Development Grant program will have dedicated streams to support eligible Australian businesses to develop their capabilities in relation to Sovereign Industrial Priorities, Exports, Skilling and Security. $165.7m is available over five years from 2023-24 as part of this new program.

Further information about RUD Australia

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