Norwest. ResMed reports results

ResMed Ltd, at Bella Vista in Norwest, founded in Sydney in 1989 with the primary purpose to commercialise a device for treating obstructive sleep apnea, and now headquartered in San Diego, California, reported revenue of $US1.1 billion for the year ended June 30, 2010. Income from operations was $US240.4 million and net income was $US190.1 million, an increase of 26 per cent and 30 per cent respectively, compared to the year ended June 30, 2009. ResMed operates in over 68 countries via 18 direct offices and a network of distributors with extensive knowledge and experience of local markets. ResMed, which has about 2700 people based around the globe is listed on the NYSE and the ASX.

Parramatta. Rail link is on again

Preliminary work on the $2.6 billion Parramatta-Epping rail link could commence next year with construction due to be completed in 2017, shaving 25 minutes off the 14-kilometre trip from Parramatta to Chatswood. The line would pass through a new station at Rosehill-Camellia and upgraded stations at Rydalmere, Dundas, Telopea and Carlingford, then would meet up with the existing Chatswood-Epping line. Construction would include two tunnels, one from Parramatta to Rosehill-Camellia and another from Carlingford to Epping. Prime Minister, Julia Gillard, will promise $2.1 billion in federal funds, with the state government to contribute $520 million.

Parramatta. Upgrade of The Octagon

PFA Diversified Property Trust and Westlawn Property Trust, co-owners of The Octagon building in the Parramatta CBD, have completed a $7.8 million major refurbishment of the iconic office building, opened in 1990. The works included an upgrade of major operational plant and equipment, delivered as part of the Federal Government's Green Building Fund initiative, as well as a revitalisation of various architectural and landscape elements. The building comprises seven levels of A-grade office space and two basement levels of parking for approximately 362 cars.

Auburn. Costco expects sales of $97.5m

The US-based Costco Wholesale Corporation, which is building its $60 million Australian HQ and first Sydney warehouse, on Parramatta Road, Auburn, expects first year total sales for the store of $97.5 million with an average of $155 per visit. The store will provide 230 on-going jobs and the construction provides 130 jobs. About 800 parking spaces will be available

North Ryde. Record result for Cochlear

Bionic ear manufacturer, Cochlear, which expects to move into its new $130 million global HQ at Macquarie University by year-end, posted a 19 per cent increase in full-year profit to $155.2 million.

Wetherill Park. WSMN to visit FIP Brakes

FIP Brakes, at Wetherill Park, will host a site visit by members of the Parramatta-based Western Sydney Manufacturers Network (WSMN), on August 25. “The roundtable discussion and site visit will provide a good opportunity to improve your understanding of what level of commitment is required to undertake a business transformation and the long term impact of the transformation on the business, both positive and negative,” said WSMN facilitator, John Pearson. Non-members are invited to attend. Details and registration at http://www.wsmn.org.au/ or phone 9687 2788. WSMN members recently visited and reviewed logistics and operations at the News Limited’s $400 million-plus Chullora facility. The visit and roundtable was supported by Cumberland Courier Newspapers, a sponsor and member of the Western Sydney Business Connection WSMN aims to be an effective network and voice for manufacturers in Western Sydney, to promote the region as a manufacturing centre and preferred place for investment.