Perth headquartered Austin Engineering, a leading provider of truck trays, has announced that it has received all the expected purchase orders from a successful tender process conducted last year.
Additionally, they have received an extra 25% in additional orders, all consolidated under a single contract for the delivery of truck trays to Western Australia, Austin Engineering wrote in a statement.
The total value of the received orders amounts to approximately A$25 million ($16.7 million), the statement noted.
Recently, the first three trays were delivered from Austin’s production facilities in Batam, Indonesia, and Perth, Western Australia.
These trays have been dispatched to the customer site, marking the initial fulfillment of this order. The remaining trays are either in production or scheduled for production at the mentioned facilities.
Austin Engineering stated earlier this year that they had obtained 85% of the outstanding purchase orders for this contract and were expecting the last orders, and with the new order has been confirmed, the tender contract can be successfully completed.
As per the company, its overall order book continues to grow steadily, and as of May 2023, Austin’s group order book has increased by 21% compared to the previous year, reaching A$146 million.
Moreover, this figure represents more than double the order book size from two years ago, reflecting their ongoing progress.
Commenting on the development, Austin CEO and Managing Director, David Singleton, said, “We are very pleased to have received more purchase orders than expected under the financial year 2023 tender contract and can confirm that most of the revenue will be booked in financial year 2024. Further, we have continued to build our financial year 2024 order book, driving an improved revenue outlook.
“Our recently expanded Batam manufacturing centre continues to provide the extra capacity and flexibility we need in our business. With deliveries now scheduled across the world including US, Australia, Europe and India, we are expecting a strong performance for our Batam operations in financial year 2024,” he said.