About VEEM

Company History

VEEM was established in 1968 by Voyka and Elizabeth Elise Miocevich and began as a small engineering services company specialising in the repair and dynamic balancing of drive shafts, engines and other rotating equipment.

Today, VEEM a is a marine technology disruptor specialising primarily in propulsion and stabilisation systems and also provides products and services to the marine, defence and mining industries. The company has grown to become a premium manufacturer of sophisticated equipment for a variety of industries winning countless export awards, design awards and innovation awards around the world.

Read more about VEEM’s rich history below.

The Complete VEEM Ltd History

Established in 1968, VEEM Ltd began as a small engineering services company, specialising in the repair and dynamic balancing of drive shafts, engines and other rotating equipment. Over the years, the proud family business has been led by two generations of the Miocevich family. The name VEEM was formed from the initials of the founders Voyka and Elizabeth Elsie Miocevich.

By the late 1980s, VEEM Ltd won its first major defence contract for the manufacture of submarine valves for the new Australian Submarine Program under licence from Flowserve Defence UK. Some 30 plus years later, VEEM Ltd is still manufacturing these safety critical, submarine hull valves – a testament to its focus on quality control and engineering excellence. Another major milestone saw VEEM Ltd acquire two highly specialised non-ferrous foundries and eventually integrate them onto one site in Canning Vale, Western Australia.

In the 1990s, VEEM Ltd built a strong partnership with Austal Ships and became the supplier for hollow bronze castings for its aluminium ships. This relationship continues to this day. As VEEM Ltd grew, the directors realised that VEEM’s engineering services  was limited by the physical boundaries of the Western Australian marketplace and to be successful globally, the business really needed to expand to not only manufacture bespoke equipment for others, but to become a manufacturer of its own technology and products.

Recognising the growing global market demand for high performance marine propellers, VEEM Ltd began developing a ground-breaking propeller manufacturing technology to target this highly specialist market segment. VEEM Ltd became the industry expert manufacturer with superb design, ground-breaking technology and associated patents, plus the most advanced CNC machinery and robotics worldwide. A strong, global distribution network, a highly advanced Internet portal and full production tracking capability for clients, were additional highlights of this modern global product. 

Building upon its core strengths in the fields of technology and precision engineering design, in 2012, VEEM Ltd commenced development of a range of powerful gyrostabilizers for super yachts, patrol boats and offshore working vessels. These gyrostabilizers were developed for use on large boats and small ships operating in very demanding commercial applications. With an unwavering passion for beautiful design and engineering excellence, VEEM Ltd launched a market-leading product in 2015 that dramatically reduced the rolling motion of vessels, increased at-sea time and improved personnel safety. The 6 model range represents the largest size of powerful, high quality marine gyrostabilizers in the world. 

Today, VEEM Ltd is a leading manufacturer of disruptive high technology products for the marine, aerospace, defence, oil and gas industries. Based in Perth, Western Australia, VEEM Ltd operates from a 14,700 sqm purpose-built fabrication and manufacturing facility, including Australia’s largest non-ferrous foundry.

VEEM Ltd Family business Hall of Fame