OEC 0.67% $1.51 orbital corporation limited

concise financial report - looking good

  1. 6,931 Posts.
    A Few Verry Interesting Tidbits From The 2003 Concise Financial Report

    The Indian market is looking very promising. Scooters and motorbikes are on the agenda.

    I hold lots.

    1)"On-engine and vehicle production and proofing

    programs were also carried out to validate customers'

    engines and vehicles over extensive durability test cycles

    using robotically controlled mileage accumulation

    dynamometers and automatic engine test facilities."


    2)Orbital was also engaged during the year to modify a

    production outboard engine to enable it to operate on JP5 fuel.

    Traditional problems with the use of such heavy fuels

    include poor cold starts and difficulties in engine calibration."



    3)While continuing to develop its OCP technology for

    motorcycle, marine and recreation, and automotive

    applications, Orbital has sought to increase its

    revenue by widening the scope of its engineering

    services and testing.

    Orbital provides engineering solutions for all types of

    powertrains at its development centre in Western

    Australia.

    Customers in all fields of engineering are offered cost

    effective solutions utilising a wide range of skills and

    resources such as:

    engine design and modelling (2D and 3D)

    numerical analysis

    computational fluid dynamics

    combustion and fuel system development

    calibration and control strategy development

    rapid turnaround prototyping

    engine management systems development

    The Company utilises fully equipped engine emissions

    and performance dynamometers, engine durability

    cells, engine and vehicle environmental cells, vehicle

    emissions chassis dynamometers and mileage

    accumulation dynamometers.

    Orbital's capabilities and expertise in these areas have

    been recognised in various programs that the

    Company has undertaken in the 2003 financial year,

    including the following examples.

    An extensive program was commissioned in late 2002

    by the Australian Government agency, Environment

    Australia, to assess the impact of running a range of

    vehicles on petrol containing 20% ethanol. The

    purpose of the program was to determine the impact

    on motor vehicles of this level of ethanol in petrol

    3)"Motorcycle

    Orbital's business development efforts in the motorcycle

    area have been concentrated on growing OCP

    technology market share for European applications and

    pursuing new business in Asia.

    During the 2003 financial year Orbital continued to

    work proactively with its European customers and

    Synerject to assist with the launch of new customer

    models and to win new business. Activities included

    marketing OCP technology for use on higher engine

    capacity platforms and increasing the penetration on

    50cc applications.

    Peugeot's "Jetforce" scooter was released for sale for the

    European 2003 summer market, bringing to seven the

    number of motorcycle models on the market

    incorporating Orbital's direct injection technology.

    Orbital continues to offer engineering services to both

    regional motorcycle manufacturers and Tier 1

    component suppliers to assist them in establishing local

    component supply infrastructure for Orbital's technology

    in major Asian markets.

    Business development activities in Asia focused on India

    and Taiwan where forthcoming emissions standards will

    be implemented and where there is an interest in

    exploiting the benefits of 2-stroke engines and extending

    the life of existing investment in 2-stroke engine

    production lines.

    In February 2003, Orbital entered into a Technical

    Cooperation Agreement with UCAL Fuel Systems Ltd, a

    manufacturer of carburettors and fuel injection system

    components for the Indian motorcycle and automotive

    Under the agreement, UCAL has been granted

    the right to manufacture and supply components of

    Orbital's OCP direct injection fuel system to the 2-stroke

    motorcycle market in India.

    The agreement with UCAL is an important initial step for

    the adoption of Orbital technology by domestic Asian

    motorcycle manufacturers. UCAL and Orbital are

    working with leading Indian manufacturers to progress

    the adoption of the technology.

    Throughout the year, the range of products offered to

    motorcycle customers was expanded to include OCP

    direct injection 4-stroke products developed by Orbital's

    Automotive group and high value Engine Management

    Systems engineering consultancy services.

    OCP direct injection for 4-stroke technology has the

    potential to deliver fuel economy improvements of

    approximately 10% to 15% over existing 4-stroke

    carburetted engines, depending on the application and

    the baseline engine, whilst complying with increasingly

    stringent emissions standards. Initial interest in this

    product has been strong, particularly for developing

    countries, with high gasoline prices and low average

    wages.

    Pocket Dash™, Orbital's diagnostic unit designed and

    manufactured to support the motorcycle air assist direct

    injection products, achieved further sales to dealers in

    Europe, together with the provision of upgrade kits

    which further enhance the functionality of existing

    Pocket Dash™ units in the field. Potential interest in this

    low cost diagnostic system is now being received from

    India and other countries that may require the

    implementation of Engine Management Systems in the

    near future in order to comply with the forthcoming

    local emission requirements.




    4)The worldwide emphasis on reduced vehicle fuel

    consumption together with the increasing availability of


    low sulphur fuels continue to be major drivers to the

    automotive producers' desire to reap the full potential of

    direct gasoline fuel injection.

    First generation, high pressure systems, have failed to

    deliver significant on-road fuel economy benefits.

    Manufacturers are now investing in improved cylinder

    designs that locate the injector in the centre of the

    combustion chamber and which, when combined with

    low sulphur fuel, deliver much improved fuel economy.

    This desire to adopt the next generation of direct

    injection (DI) technologies has created a renewed

    interest by original equipment manufacturers in

    considering Orbital's low pressure air assisted DI technology for

    production applications.

    A recently completed extensive development and application program by

    Orbital for a European customer has confirmed that the Orbital direct

    injection technology when applied to optimised designs of 4-stroke

    engines continues to deliver benefits ahead of competing

    technologies.

    This customer program involved designing a new 2-valve, 4-cylinder

    variant of an existing production engine featuring the close

    integration of Orbital's direct fuel injection technology in the

    preferred configuration of a centralised injector. In

    addition to the design and analysis of the new cylinder

    head and ancillary systems, Orbital was responsible for

    all engine test and development activities including

    engine dynamometer development of emissions and full

    load performance, verification of operation and vehicle

    chassis dynamometer calibration of emissions,

    drivability and catalyst system development. The

    resulting demonstrator vehicle delivered a fuel economy

    improvement over the standard production vehicle of

    approximately 17% using the European drive cycle

    together with emissions below Euro 4 levels.

    Orbital continues to work with a number of automotive

    customers on programs which, if successful, could lead

    to future serial production.

    markets.
 
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