A C N 1 0 5 6 6 5 8 4 3 WA INDUSTRY AND EXPORT AWARDS PERTH, WA 5 SEPTEMBER 2005 The Company is pleased to announce that it has been selected as a finalist for this year’s prestigious Western Australian Industry and Export Awards. Attached is the press release issued by the Department of Industry and Resources. Authorised by: Richard Wolanski Chief Executive Officer Neptune Marine Services Limited T: (08) 9226 5722 About Neptune: Neptune Marine Services Limited is the owner of the Neptune Dry Underwater Welding System, a patented technology, that allows permanent in-situ weld repairs to be carried out underwater at a fraction of the cost of using conventional permanent repair methods. The technology has class society approval for use, and is currently being commercialised globally. Neptune Marine a finalist in the WA Industry and Export Awards Neptune Marine Service Limited has been selected as a finalist for this year’s prestigious Western Australian Industry and Export Awards. The awards, now in their 17th year, recognise excellence and innovation in small and large WA businesses and feature 14 industry and export categories. Neptune Marine is commercialising the patented Neptune Dry Underwater Welding System that allows permanent in-situ weld repairs to be carried out underwater at a fraction of the cost of using conventional permanent repair methods. The technology has broad application in markets including shipping, oil and gas, infrastructure, defence and hazardous environments. Proof of the technology was confirmed through the generation of almost $1 million in revenues in the first 12 months of operation and through the repeat business delivered to the Australian Navy. After a successful first year, which included the generation of initial export revenues, the company’s primary focus has expanded from building Australian revenues to building multiple revenue streams from south east Asia and the United Arab Emirates. The potential to create multiple revenue streams out of Asia will result in rapid growth in revenues as a presence is established in each new country and will add to the value of the technology in the significant markets in the northern hemisphere. The winners, to be announced at a gala dinner and presentation evening at the Hyatt on Friday 14 October, will also be vying for the sought after Premier’s Award for Excellence. Premier Geoff Gallop congratulated Neptune Marine on making the finals of the awards, which have established themselves as the State’s most prestigious business awards. “Each year, the list of finalists and winners in these awards provide an impressive showcase of WA businesses. The awards highlight the vital contribution WA businesses make to the local economy through job creation and increased prosperity in the community.” The Premier said the awards recognise the importance of exports to the economic development of the State. In fact, about a third of our Gross State Product is generated by exports – more than any other State. He said the State already had a strong export culture, with exports from Western Australia in 2004 totalling $35 billion, and significantly contributing to the creation of more than 52,500 new jobs last year. The 2005 Awards, administered by the Department of Industry and Resources (DoIR) are sponsored by Austal, Austrade, BankWest, Ernst & Young, Export Finance and Insurance Corporation (EFIC), Fremantle Ports and The West Australian, and endorsed by the Chamber of Commerce and Industry of WA, UnionsWA and the Australian Institute of Export (WA) Ltd. For more information or to reserve a table for the gala night visit http://www.doir.wa.gov.au/awards or contact the Awards Secretariat on (08) 9222 3846, or email [email protected] Media contact: Department of Industry and Resources, Peter Lewis, ph 9222 3572, email [email protected] Neptune Marine Services Ltd, Richard Wolanski, ph 9226 5722, email [email protected]
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