Austal Launches Defense Shipbuilding Australia with Government Nod

Austal Launches Defense Shipbuilding Australia with Government Nod

In what management is calling a “defining moment” for the company, Austal and the Government of Australia have agreed on terms for a Strategic Shipbui...

Austal appointed strategic shipbuilder under landmark Australian Government defence agreement

The Australian Government has now approved the terms of the SSA, with formal contracts expected to be executed shortly. This milestone follows the initial Heads of Agreement announced on 23 November 2023. Under the agreement, Austal Defence Australia will act as the prime contractor for two major shipbuilding programs: Landing Craft Medium and Landing Craft – Heavy. The initial scope includes 18 medium and 8 heavy vessels for the Australian Army…

Australian Government approves landmark Strategic Shipbuilding Agreement with Austal

Austal Limited announced that it has finalised its Strategic Shipbuilding Agreement (SSA) with the Commonwealth of Australia, which will appoint a newly created Special Purpose Vehicle and Austal subsidiary, Austal Defence Shipbuilding Australia (“Austal Defence Australia”), as the Commonwealth’s strategic shipbuilder for Tier 2 surface combatants at Henderson, Western Australia Austal press release The Commonwealth Government has now approved t…

Australian gov’t approves strategic shipbuilding deal with Austal - Australian Manufacturing

The Australian Government has approved a Strategic Shipbuilding Agreement (SSA) with Austal Limited, formally appointing the company’s new subsidiary, Austal Defence Shipbuilding Australia, as the Commonwealth’s strategic shipbuilder for Tier 2 surface combatants based at Henderson, Western Australia. In a media release, the company said the announcement establishes a framework for Austal Defence Australia to oversee the design, construction, an…

Austal jumps +6% on Oz 'strategic builder' status; EBIT boost

Shipbuilding stock Austal Ltd (ASX:ASB) has jumped +6.7% as it enjoys two tailwinds: first, that delivered by Canberra declaring the company a ‘strategic shipbuilder,’ secondly, as it increased FY25 EBIT projections to “not less than $100M.” Canberra has on Tuesday declared Austal a shipbuilding partner with the completion of a Strategic Shipbuilding Agreement (SSA), an interesting piece of legal nomenclature borne in the era of AUKUS. That deal…