INDUSTRY EXPANDS

New Zealand Herald, Volume LXXVII, Issue 23770, 25 September 1940, Page 5

INDUSTRY EXPANDS

GREAT WAR IMPETUS • : NEW CAPITAL £16,500,000 •r. [from our own- correspondent] SYDNEY, Sept. 14 New Australian industries, beginning production or in development «is a result of the war, involve a capital outlay of £16,500,00,0. This is exclusive of the expanded munitions and armament industries. Details of this expanEion. which marks a new phase ill tho development of Australian economic independence, were made available from official sources. . Completely new industries now being established (capital outlay £10,000,000) include the manufacture of newsprint, tool'and alloy steels, aluminium rods and sheets. Synthetic ammonia, canned fish and pig iron. Expansion of the cotton textile industry (outlay £1,500.000) will enable Australia to produce for tho first time cotton and canvas 'duck, flax canvas aiK cord, and similar cloths. Notable extensions of industry (outlay £1,000.000) provide for stepping \ip '.the output of agricultural implements. wireless valves, electric motors, moulded brake linings and electric washing machines. . Completely new industries (outlay £4,000.000), which have recent \ reached tho production stage, include the manufacture' of aero engines auc accessories, motor body sheets, street tractor wheels, radio testing instruments. air-conditioning plants, carpets, printing and writing papers, radiator, and coil springs for motor-cars. Apart from the wartime expansion . of the munitions industry, figures lor which arc secret, the total value or / plant and machinery in Australian:lactone!; now totals about £150.000,000. as against £121,500,000 in 1931-32. Jhe value of the factories' output £500.000,000, as' against £111,000,000 in 1932. The number of hands employed in factories approaches 60n,U00 '(337,000 in 1932), and-wages paid exceed £110.000,000 (£50,000,000 in 193-2).