VEEM Ltd
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— From the desk
Latest News
VEEM to Raise $14m after Signing Licence Agreement with Northrop Grumman
VEEM (ASX: VEE) has taken a decisive step in its defence growth strategy, completing a $14 million placement while securing a nine-year manufacturing licence agreement with global prime Northrop Grumman. The agreement allows VEEM to supply precision components into the US Navy’s Virginia Class submarine program, initially valued at up to US$33m with scope to expand […]
VEEM Enhances Defence Pipeline with HII Supplier Approval and ASC Contract Renewal
VEEM Ltd (ASX: VEE) has achieved approved supplier status with the Newport News Shipbuilding division of Huntington Ingalls Industries, advancing its entry into the US submarine industrial base. The approval followed a rigorous quality assessment under the Australian Submarine Supplier Qualification program, designed to streamline local companies into the AUKUS trilateral supply chain. VEEM said […]
VEEM records strong start to FY21 with $5.9 million in marine stabilisation orders
Australian marine technology group VEEM (ASX: VEE) has recorded $4.1 million worth of orders in the first six weeks of the 2021 financial year, compared to total sales of $4.8 million for the full 12 months ended June 2020. Included in this total is the receipt of $2.8 million in orders for VEEM’s range of […]
Niche stocks flying the flag for Australian manufacturing
Our trade tensions with China have fuelled the coronavirus-spurred debate about our reliance on offshore supply chains for goods both to and from our shores. Apart from the reluctance of the Chinese to take our barley – and thank goodness they’re not snubbing our iron ore – the other topic of post virus introspection is […]