VEEM Ltd is a pioneering high-technology engineering company headquartered in Perth, Western Australia, with a remarkable 57-year history of innovative design and manufacturing. Specializing in marine propulsion and stabilization systems, the company serves global markets including luxury motor yachts, fast ferries, commercial workboats, and defense industries. Their advanced technological solutions have positioned them as a disruptive force in marine engineering.
Operating from a sophisticated 14,700 square meter purpose-built facility that includes Australia’s largest non-ferrous foundry, VEEM employs approximately 180 skilled staff, including graduates and apprentices. The company maintains a robust in-house research and development team, continuously pushing technological boundaries across multiple product divisions such as VEEM Marine, VEEM Defence, Timcast Hollowbar, VEEM 247 Engineering, and Conquest Propellers. Their commitment to engineering excellence has seen them deliver over $200 million in defense contracts since entering the sector in 1987.
VEEM’s strategic focus extends beyond traditional manufacturing, with recent notable achievements including a six-year, $65 million contract with ASC for submarine components and participation in the AUSS-Q Pilot Program, demonstrating their significant contribution to Australia’s defense capabilities. Listed on the Australian Securities Exchange since 2016, the company continues to innovate and expand, offering cutting-edge solutions that enhance performance and efficiency across marine and industrial sectors through their advanced engineering and manufacturing capabilities.
VEEM Limited (ASX:VEE) Announces Launch of VEEM Extreme Marine Propulsion System with 18.1% Fuel Efficiency
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