ANCA to invest $6 million in 12 months
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Australia-based tool and cutter specialist ANCA will have invested $6 million in 12 months in support of its global expansion efforts.
As well as manufacturing and exporting CNC grinding machines valued at nearly $90 million in the last financial year, ANCA opened three new sales offices in overseas markets and established its first overseas manufacturing plant, in Rayong, Thailand.
This expansion will be supported by a further $4 million investment in new machinery for the company's Australian factory, which takes ANCA’s total spending on new plant and equipment to $6 million in the last 12 months. This investment is necessary to support its current annual growth rate of around 30 per cent - 24 per cent is targeted for 2006/07.
The investment program began in mid-2005 with the acquisition of two Yasda machining centres and continued with the installation of a Voumard grinding machine in July 2006. Two Swiss-made Dixi machining centres are due to be commissioned before the end of this year to bring the total investment to $6 million.
Initially founded 30 years ago by directors Pat Boland and Pat McCluskey to make CNC controls, ANCA diversified in the 1980s to design and build precision CNC tool and cutter grinders. The machine tool business flourished and has become the company’s primary focus.
ANCA is number one supplier of such machines in the USA and China, and – through innovation – has prompted changes to the way CNC grinders are designed throughout the world, it is claimed.
