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General VEEM News

VEEM secures $9 million order from the Australian Submarine Corporation (ASC)

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Following a long history of work for the Australian Submarine Corporation (ASC), VEEM Ltd is pleased to announce that it has just received orders for approximately $9 million from the ASC.

VEEM will be providing the ASC with certain specialised parts as part of the maintenance program for the Collins class submarines. The award of the contract is another demonstration of the recurring demand for VEEM’s traditional, highly specialised defence engineering capability.

VEEM Managing Director, Mr Mark Miocevich, commented: “The new contract with ASC is further demonstration of our reputation for precision engineering to the exacting defence standards. This work will positively impact our profitability in the current and next financial years.

“While marine gyrostabilization is VEEM’s disruptive product range with huge growth potential, this $9 million contract demonstrates again the capacity of our traditional business to contribute growing recurring profits and will underpin our business during these uncertain times.”

Work will commence immediately at VEEM’s specialised engineering facility in Canning Vale, Western Australia, with deliveries expected to occur over 15 months from July 2020.


VEEM Confirms sale of VG145SD to M/Y EL REY in San Diego

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VEEM have confirmed the recent sale of a VG145SD Gyro model to be retrofitted on a 34m Motor Yacht in San Diego in the USA.

The VEEM Gyro 145SD is 20% more powerful in stabilizing effect than the VG120SD, but is contained within exactly the same envelope size and weight making the stabilizing torque density of this product a real game changer for motor yachts around 30m (100’) in length. As a single unit installation, it is suitable for vessels with displacement between 60 – 145 tonnes. Multiple units can be installed for larger vessels.

Learn More about the VG145SD

This latest sale in the USA adds to the previously reported sale for a large sport fishing boat project currently in build at Jim Smith Tournament Boats in Stuart, Florida and a VG120 unit sale for an 80′ Sportfish boat in Dubai.

Anzac Bell brought to life at VEEM

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Perth’s newest addition, a 6.5 tonne bell to be installed into the Perth Bell Tower to mark the centenary of Anzac, has become a reality this month with VEEM recently completing a successful casting pour.

VEEM was heavily involved in bringing the Anzac Bell to life, from working with designers to develop 3-D printing to show the giant frieze through to test castings of decorative elements.

Even though the final tuned weight will be approximately 6.5 tonnes, a total of ten tonnes of liquid bronze (80% copper & 20% tin) was needed to properly cast the ANZAC Memorial bell, which was undertaken on the 3rd of August.

Representatives from the Bell Tower, the Minister for Culture and the Arts, and the MP for Jandakot were present at the pour as well as the RSL and the Royal Australian Navy, as the senior service of the Australian Defence Forces.

The Anzac Bell is the first of its sort to be cast in Australia and it will be the largest swinging bell in the Southern Hemisphere. It is expected to last over 500 years and would be a lasting legacy to acknowledge the Anzac centenary.

The Perth Bell Tower is currently home to 17 bells which are made up of 12 bells from St Martin-in-the-Fields and 5 bells from the London diocese of the Church of England. These bells were gifted to Western Australia as part of the nations bicentennial celebrations in 1988.

Video thanks to Today Tonight.

VEEM Ltd recognised as top innovator for 2018

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VEEM Ltd has continued to push the boundaries of manufacturing and technology innovation for the last 50 years, and what better way to celebrate their 50th anniversary than being welcomed into the Financial Review’s Most Innovative Companies list for 2018. 

Published annually by The Australian Financial Review, the prestigious list is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges. The full Top 100 list can be viewed here.

VEEM was nominated for the world-leading series of Gyro Stabilizers, which can be viewed here, and ranked 49th on the list, from over 1,000 nominated organisations across Australia and New Zealand.

The assessment measures a top innovation implemented in the past twelve months. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that the innovation has had.

The technology and innovation behind the VEEM Ltd series of Gyrostabilizers is world-leading. A marine gyro stabilizer is a device for reducing the rolling of boats and ships in waves. This reduces and eliminates the effects of sea sicknesses, and allows vessels to work safely when required, such as superyachts, sea rescue, crew transfer boats and large naval and offshore vessels.

Discover the VEEM Gyro range here. 

Global Shipbuilding giant, Damen Shipyards group confirms successful sea trials of VEEM gyrostabilizers

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  • Game-changing recognition for VEEM’s world leading Gyrostabilizers
  • Damen is Europe’s 2ndlargest shipbuilder with more than 200 new vessels annually
  • Ampelmann is the market leader in motion compensated gangway systems
  • Negotiations underway to confirm initial orders for the largest VEEM VG1000SD Gyrostabilizers for Damen’s new Fast Crew Supplier 7011

 VEEM Ltd (ASX: VEE), Australian-based manufacturer of propellers, fin systems, gyrostabilizers and specialist components for the super yacht, aerospace, oil and gas and defence industries, is pleased to advise thatDamen Shipyards Group, one of the world’s largest shipbuilders, has announced the successful results of sea trails utilising VEEM Gyrostabilizers on board a Damen Fast Crew Supplier vessel.

Over two days in June, Damen and Ampelmann hosted international delegates from the offshore renewable and non-renewable industries on board a Damen Fast Crew Supplier 5009 fitted with two VEEM VG260SD Gyrostabilizers and equipped with the latest Ampelmann L-type motion compensating gangway.

VEEM Chairman Brad Miocevich, who attended the trials off IJmuiden Port in the Netherlands, said the performance of the VG 260SDs exceeded Damen’s expectations.

“It was impressive to see the new Damen, Ampelmann, VEEM combination working so seamlessly,”      Mr Miocevich said.

“We are very excited to receive Damen’s confirmation that they would now like to proceed to the purchase phase and confirm commercial requirements and delivery dates for us to supply VEEM’s largest gyrostabilizer, the VG1000SD, for the new Damen FCS 7011.”

Damen Business Development Manager David Stibbe said “Damen’s new 70-metre FCS 7011 fitted with the VEEM VG1000SD Gyrostabilizer would achieve roll reduction of up to 75% in 2.5m waves”.

One of the advantages of VEEM gyrostabilizers, is that the amount of roll reduction can be specified for each individual application. Testing of the VEEM VG260SD Gyrostabilizers on the FCS5009 proved to be a great success with a roll reduction of 35-40%, which had been specified.

“One of the many interesting features of the sea trials was demonstrating the gyrostabilizers being switched on and off at the push of a button. This enabled those witnessing the sea trial to appreciate the immediate positive effect VEEM Gyrostabilizers have on the vessel’s roll motion.” said David Stibbe

Ampelmann Crew Change Market Manager Wiebe Jan Emsbroek said the combination of VEEM Gyrostabilizers and the latest Ampelmann motion compensating gangway system on a Damen Fast Crew Supplier marks a step change for marine access solutions.

“The vision of Ampelmann is to make offshore access as easy as crossing the street,” Mr Emsbroek said. “These sea trials clearly show the need to have partners to deliver a single solution for safe and efficientpersonnel transfer.”

VEEM Managing Director Mark Miocevich said, “The anticipated orders are an exciting milestone on the Company’s path to widespread global acceptance of VEEM Gyrostabilizers as an essential component of ship design.”

“To have a shipbuilder of the calibre of Damen place orders for VEEM gyros heralds a new phase in our growth.”

Mr Miocevich said “Gyrostablizers will become commonplace on new vessels in the marine industry once the advantages of the technology become widely known. Another great thing about VEEM gyros is they can be retro fitted easily into older vessels with minimal engineering.”

For video of the Damen sea trial visit https://vimeo.com/276695001/0fb4bf8a53

To read the Damen announcement visit https://www.damen.com/en/press-and-media



About VEEM

VEEM Ltd (ASX:VEE) is a market leading manufacturer of stabilizers for super yachts, offshore work vessels and patrol boats. VEEM Gyro stabilizers reduce the rolling motion of vessels in waves, increasing on-sea time and improving personnel safety in a wide range of ocean conditions. VEEM is also a successful producer of propellers, fin systems and specialised components for the aerospace, oil and gas, and defence industries. Proudly headquartered in Perth, Western Australia, VEEM operates from a 10,500sqm purpose-built fabrication and manufacturing facility, including Australia’s largest non-ferrous foundry. We employ 180 staff in Australia, including graduates and apprentices, and maintain a highly skilled research and development team in-house. Celebrating our 50th anniversary in business in 2018, VEEM was listed on the Australian stock exchange in 2016.


Damen Shipyards Group

Damen Shipyards Group operates 34shipbuilding and repair yards, employing 10,000 people worldwide. Damen has delivered more than 6,000 vessels in more than 100 countries and delivers some 160 vessels annually to customers worldwide. Based on its unique, standardised ship-design concept Damen is able to guarantee consistent quality.

Damen’s focus on standardisation, modular construction and keeping vessels in stock leads to short delivery times, low ‘total cost of ownership’, high resale values and reliable performance. Furthermore, Damen vessels are based on thorough R&D and proven technology.

Damen offers a wide range of products, including tugs, workboats, naval and patrol vessels, high speed craft, cargo vessels, dredgers, vessels for the offshore industry, ferries, pontoons and superyachts.

For nearly all vessel types Damen offers a broad range of services, including maintenance, spare parts delivery, training and the transfer of (shipbuilding) know-how. Damen also offers a variety of marine components, such as nozzles, rudders, winches, anchors, anchor chains and steel works.

Damen Shiprepair & Conversion (DSC) has a worldwide network of eighteen repair and conversion yards of which twelve are located in North West Europe. Facilities at the yards include more than 50 floating and (covered) drydocks, the largest of which is 420 x 90 metres, as well as slopes, ship lifts and indoor halls. Projects range from the smallest simple repairs through Class’ maintenance to complex refits and the complete conversion of large offshore structures. DSC completes around 1,300 repair and maintenance jobs annually, both at yards as well as in ports and during voyage.



About Ampelmann

Ampelmann is the industry leader in providing safe Walk to Work services and solutions for the global offshore energy industries. Headquartered in the Netherlands, the company currently operates a fleet of more than 60 operational systems in Europe, Africa, Asia Pacific, the Americas and the Middle East. Its innovative and reliable transfer and cargo solutions are designed and tailored to meet the needs of the ever changing offshore industry. Founded in 2007, the company has a proven track record of more than four million safe people transfers, more than eight million kg cargo transfers and 250 projects worldwide. www.ampelmann.nl

Mike Bailey Joins VEEM Board as non-executive director

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VEEM Ltd (ASX: VEE), (“VEE” of “the Company”), Australia-based manufacturer of propellers, fin systems, gyrostabilizers and specialist components for the super yacht, aerospace, oil and gas and defence industries, is pleased to advise of the appointment of Mr Mike Bailey as an Independent Non-Executive Director of the Company.

Mr Bailey is best known as a Director of AMC Management since 2001. AMC Management oversaw the operational management, business development and infrastructure expansions of the Common User Facility within the Australian Marine Complex at Henderson, south of Fremantle in Perth, Western Australia on behalf of the Government of Western Australia. Since opening in 2003 the facility has surpassed all expectations, generating around $3 billion for the local economy and creating more than 37,400 jobs through some 417 projects.

From 1990-1997, Mr Bailey was Group Contracts and Marketing Manager at VEEM. He was responsible for business development, contracts and tenders. Contracts included manufacturing, repair and conversion scopes for the Royal Australian Navy. He was also General Manager, Defence Division at VEEM.

VEEM Managing Director Mark Miocevich said he is pleased to see Mr Bailey return to VEEM in his new role. “Mr Bailey has a huge amount of experience in managing highly-complex projects across the defence, oil and gas, and mining sectors. He is well-respected in the industry and a valuable addition to VEEM’s Board.”

Mr Bailey commented; “I have watched the significant progress of VEEM over the years and maintained an interest in VEEMS continued drive for engineering excellence. To be able to return some 20 years later and find that the passion for innovation and service remains as strong as ever and is a reminder of the skills and experience that we have in the Western Australian market to be able to service a wide variety of sectors.”

From 1984-1990, Mr Bailey was Manager, Defence Division, at Dawson-Brown & Root Engineering in Perth and from 1979 – 1984, Senior Naval Architect/Project Manager at McDermott International in Singapore.

Mr Bailey has the degree of Master of Science in Naval Architecture, Post Graduate Diploma in Ocean Engineering, and a Bachelor of Science in Mechanical Engineering. He is a Chartered Engineer (UK), Member of the Royal Institution of Naval Architects, and a former Member of the Royal Corps of Naval Constructors (1968-78).

Mr Bailey’s appointment follows the appointment of Mr Peter Torre in April 2018 and further enhances VEEM’s Governance Framework. Whilst Mr Bailey was previously employed by the Company, he has not acted in any capacity for the Company for in excess of 20 years, and as such, is considered by the Board of the company to be an Independent Non-Executive Director.

VEEM Ltd produces unique Aboriginal Statue for Yagan Square

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The new Yagan Square in Perth, Western Australia is now home to one of the biggest Aboriginal figure Statues in the country. ‘Wirin’, which is 6.1m tall, was recently cast at VEEM as one of the most original & largest artwork casting projects the foundry has ever seen.

The large ductile iron sculpture named “Wirin”, which was designed by “Tjyllyungoo” (aka Lance Chadd) and sculpted working with Stuart Green from Big Spoon Art Service, left VEEM on 23rd January 2018 and was installed at Yagan square two days later prior to the square’s opening.

The intricate manufacturing process, which spanned a number of months at VEEM utilised the in-house alloying facilities and foundry to cast the statue in a unique metal that would oxidise over time to match the surrounding buildings.
The ductile iron metal was chosen by VEEM and the artist to provide the required strength, using patina as well, which was carefully poured using 5 tonnes of liquid metal. The statue, which started off with a silver appearance, has already begun the oxidisation process and transformation into a rustic appearance to match the building facades in Yagan square. It is expected that the patina will continue to develop further in the many years to come.

The casting process at VEEM began with the statue’s mould, requiring 38 pieces of individually made sand blocks shaped around the pattern, which formed the statue’s shape as a cavity that was subsequently filled with metal.
Daniel L from VEEM said the project presented many unique challenges and required artisan skill in the forming of the mould and production of the metal and finishing processes such as grinding. “This was an extremely interesting & challenging project for the entire team at VEEM, and it is rewarding to see the final result become part of the Perth Cultural Landscape for years to come”.

Stuart Green from Big Spoon Art Service was very happy with how the project worked out, commenting “Just up, Brilliant! Well done all to at VEEM”.

On the statue itself designer Tjyllyungoo commented “His powerful presence will offer the public audience an interactive visual, visceral experience of these inseparable, inherent cultural values which represent the ancient Cultural law and reciprocal relationship of nature worshiping. These are the cultural values within cultural Law that our 38 year old Whadjuk Noongar warrior ‘Yagan’ and his father ‘Midgegooroo’ fought so fearlessly to protect during the Swan River Colony in 1833.

Our traditional custodians accumulated cultural knowledge and responsibilities, passed down over thousands of years, on particular specific care for country that in turn, provides and cares for all life. This design signifies our people’s longevity in the spirit of our Culture.”

Yagan Square has since become one of Perth’s most popular community, meeting and celebration places.

For more information on “Wirin’ and Yagan Square, please visit https://www.mra.wa.gov.au/see-and-do/yagan-square/attractions/wirin


Giving super yachts a smooth ride: AAMC Interview with Mark Miocevich

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The world’s highest earners may not know it, but when they spend over $5,000 an hour for the privilege of using Sydney Harbour-based super yacht Tango they can thank local advanced manufacturer VEEM Ltd. for their smooth ride.

Tango, which has hosted such names as Richard Branson, celebrities Katy Perry, Brad Pitt and Justin Bieber, as well as the King of Norway, the CEO of Chanel and the manager of Manchester United, Jose Mourinho, is among the first clients to receive one of ASX-listed VEEM’s game changing gyrostabilisers, designed for the large boat market.

These patented stabilisers significantly reduce “roll” during sail, increasing safety, reducing seasickness and generally making the journey much smoother and more pleasant.

“The super yachts, the workboats, ferries, patrol boats – from 100 tons to 3,000 tons — that market is massive and upwards of a $1billion-a-year market for us,” Managing Director Mark Miocevich says.

“Our first sales have been in the super yacht area. They are early adopters and having a new technology that performs better is something that they are very likely to move toward.”

VEEM, founded in 1968, has already had long success revolutionising the manufacture of propellers with the use of advanced manufacturing techniques to make them faster, smoother, quieter and easier to maintain and replace.  The firm earns around half its turnover from exports, and also boasts significant defence work, with the Australian Submarine Corporation awarding VEEM the first of a new generation of partnering contracts for the Collins Class Submarine in 2014.

VEEM manufactures its sophisticated castings in Australia to best manage the complexity.

The firm, which listed on the ASX in October, uses patented, robotic processes to make casting moulds, enabling VEEM to manufacture any shape of propeller simply by selecting the program and eliminating the need for traditional wood patterns for propeller castings — a major cost saving and innovation.

“We have the most advanced propeller manufacturing facilities in the world. It is absolute state-of-the-art,” Mr Miocevich says, adding that VEEM also fully machines every millimetre of the propeller surface using computer numerically controlled (CNC) machines.

“We have a factory full of them and they run 24 hours a day, lights off. So they are automatically run by a laser-operated robot forklift, which loads and unloads the machines by itself,” Mr Miocevich explains.

Being located in in Canning Vale, around 20 kilometres from Perth, is a benefit rather than a hindrance, he says, maintaining a lot of IP protection simply by being remote.

“Remoteness to market is actually quite valuable. Being based in Perth, Western Australia, being so far from anywhere, we tend to not have the cross-pollination of techniques to other companies. For example, in England there are three propeller manufacturers and their employees move from company to company, so any new technique they develop is lost very quickly.”

Modern transport also means long distances are not a huge percentage of the cost of the product in the way they used to be.

“This model of using high-technology, good IP protection, creating global market niche products is what Australia needs to look for to be successful in manufacturing. Australian manufacturing has to come back in a different form to what it was before and we believe the model that we have got represents that new thinking,” Mr Miocevich says. “I am optimistic if you have the right model.”

“That is where the cleverness is and that IP needs to be protected. So the critical components we manufacture and assemble here and then export from here. That seems to be the model that most people are using globally nowadays.”

The newly-released gyrostabilisers have been sold to vessel owners in New Zealand, the US, and The Netherlands, and there is interest from defence contractors to improve the operational performance of a patrol boat for activities such as launch and recovery of vessels, accuracy of weapons and safety and comfort of crew.

There is also potential around high-speed crew transfer vessels which may replace helicopters in ferrying crew from oil platforms to oil rigs.

“We are seeing interest from a number of sectors and the ramifications are very large. You still have the old ‘pitch and heave,’ so front and back you get movement, and up and down with the swell, but none of this rapid side-to-side roll that boats experience,” says Mr Miocevich.

“If the vessel is rolling significantly it is very unstable for human beings to walk around, and as you are loading it swings violently. We can also significantly reduce seasickness so that when people are working they are more efficient and more productive.”

VEEM looked around the world and developed a global supply chain very similar to some of the major players in the marine sector, such as Rolls-Royce Marine, modelling itself on the best and brightest in the industry.

Mr Miocevich says Australians are natural innovators who punch above their weight in the list of global inventions – everything from the electric drill to the black box recorder to Cochlear – perhaps because of our historical isolation.

“Getting things from overseas was difficult and time-consuming, so we’ve always had the philosophy [in Australia] that if we were repairing something and we couldn’t buy the part, we’d just make it. Many, many great Australian companies are exactly like that,” Mr Miocevich says

Mr Miocevich also says the government’s defence initiative was a “masterstroke” for local manufacturing, because unlike the auto industry many of the contractors are Australian-owned companies.

“What we are doing now is developing a whole raft of SMEs and larger companies that are Australian companies – and that is developing a wide range of skills and businesses in this country which I think provides a much stronger future, and you can export a lot more because of it,” he says.

Article from Australian Advanced Manufacturing Council – http://aamc.org.au/portfolio-items/giving-super-yachts-smooth-ride/

In the press: High tech manufacturer helps to propel Aussie exports

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Dynamic Export Magazine, 5th May 2017

When Australian marine engineering excellence, leading edge innovation, perseverance, vision and focus are joined with advanced manufacturing capability you have the hallmarks of Perth based success story VEEM Ltd, a high technology manufacturer of Marine Propulsion and Stabilization systems.

By rigorously applying advanced design and manufacturing techniques VEEM has produced leading edge products that now sit astride some key global markets. More than 40% of VEEM sales are from exports.

Importantly, export sales are being won in some of the most competitive markets in the world where product perfection and unrivalled performance are the standard. …..

Continue to the article …


VEEM Begins work on Anzac Bell

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The giant Anzac Bell, a 6.5 tonne bell to be installed into the Perth Bell Tower to mark the centenary of Anzac, is slowly becoming a reality with VEEM currently completing the 3-dimensional modelling of the ‘Frieze’ graphics that will be featured on the face of the bell.

The bell, which is expected to be cast from copper and tin, is to be funded by a Lotterywest grant and investment from a local WA businessman. Culture and Arts Minister, John Day, said that the Anzac Bell will be the largest swinging bell in the Southern Hemisphere once completed and would be a lasting legacy to acknowledge the Anzac centenary.

The bell is the first of its sort to be cast in Australia and is expected to last over 500 years.

The Perth Bell Tower is currently home to 17 bells which are made up of 12 bells from St Martin-in-the-Fields and 5 bells from the London diocese of the Church of England. These bells were gifted to Western Australia as part of the nations bicentennial celebrations in 1988.

VEEM expects the project to be completed later this year.