• Australian Sovereign Defence and Advanced Manufacturing (ASDAM) is a leading Australian defence manufacturer and exporter
  • ASDAM is a key partner to global defence prime customers and government on long-term global defence programs
  • The financing provides growth capital to add capacity and capabilities at Australian sites
  • Growth plans projected to add 340 skilled jobs

 

The National Reconstruction Fund Corporation is making a $150 million debt investment in leading Australian defence manufacturer and exporter, ASDAM.

The investment is part of a $400m financing package obtained by the company to provide growth capital and refinance existing debt. 

ASDAM has leading capabilities in advanced manufacturing and sustainment, services a number of defence and non-defence programs and has long term relationships with governments, defence prime contractors and other industrial customers. ASDAM’s products are used across a range of industries including, aerospace, defence, rail, automotive, mining and energy.

The financing will support ASDAM to add further capacity at its existing Australian facilities to support Australian defence capabilities. 

ASDAM employs over 1000 staff across 12 sites across Australia. The company expects to create approximately 340 new skilled manufacturing jobs in Australia over the next three years.

“During uncertain times it is vital that Australia builds sovereign capability when it comes to manufacturing key defence equipment and ASDAM has demonstrated an ability to grow and compete on a global scale in these areas,” NRFC CEO David Gall said.

“We are pleased to be part of a package of debt that will allow this Australian industry leader to expand its operations, grow highly skilled jobs and reinforce its position as a key part of the defence supply chain for Australia and its allies.”

 

NRFC Media contact: media@nrf.gov.au

 

About the National Reconstruction Fund Corporation (NRFC)

The NRFC is Australia’s sovereign investor in manufacturing capability. It has $15 billion to invest through direct loans, equity investments and loan guarantees across seven priority areas: renewables and low emissions technologies; enabling capabilities; defence capability; transport; value-add in resources; value-add in agriculture, forestry and fisheries; and medical science. 

The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.

 

About ASDAM

ASDAM is a leading sovereign defence, advanced manufacturing and sustainment company. It provides end-to-end capability across design, engineering, manufacturing, assembly and sustainment. ASDAM includes Marand, TAE Aerospace, Rosebank Engineering, Levett Engineering and Quickstep. ASDAM’s role is to provide continued access to capital and resources to build and grow sovereign industrial capability.