Paddy Gregg says he's disappointed Austal was excluded from the decision-making process, and was given no insight into the "strict conditions" placed on Korean giant Hanwha's bid to double its stake in firm.
South Korean chaebol Hanwha has been given the greenlight to double its stake in Australia's sovereign shipbuilder Austal following months of deliberation by Treasurer Jim Chalmers.
As the USS Vermont undergoes a landmark overhaul in WA, the prime minister faced questions over Austal's future ownership and the broader industrial readiness needed for Aukus.
Paddy Gregg says he'll "be a little mischievous" and probe Anthony Albanese on the Foreign Investment Review Board decision on the company's ownership at a dinner in Perth tonight.
Australia's sovereign submarine builder and sovereign shipbuilder have signed an agreement to collaborate on workforce development and 3D printing opportunities.
Richard Marles found out the US greenlit South Korean companies to build submarines on US soil via a Trump social media post, as an update on Hanwha's bid to increase its Austal stake continues to be delayed.
Anxiety over the protracted Foreign Investment Review Board decision on Hanwha Group's proposed increased stake in Austal was central to shareholder concerns at the shipbuilder's AGM today.
The federal government has confirmed it will lend Austal $100 million to support growth at the company's Alabama shipyard, in a cross-border backing of the defence shipbuilder's ambitions.
Henderson-headquartered shipbuilder Austal will cancel construction of two US Navy towage and rescue boats after reaching an agreement to mitigate blown out construction costs.
Shares in Austal continued their strong run today after the shipbuilder secured a further $US314 million ($480 million) of work with the United States Coast Guard.
Takeover target Austal's founder John Rothwell has resigned from the board of the shipbuilder he built after 38 years, as a call looms on Hanwha's pursuit of a major stake.
Defence-focused shipbuilder Austal dramatically increased its net profit result in FY25, recording a 503 per cent jump from $14.9 million to $89.7 million over 12 months.
The federal government has formalised its agreement with a new subsidiary of Austal, in a move which confirms its status as a strategic shipbuilder of choice.
Former under treasurer Michael Barnes will become the Western Power chair in December, taking up the baton just six months after he was tapped for the energy corporation's deputy chairmanship in Ju
The Australian government will be able to buy Austal's Henderson shipyard and take over its local defence-focused operations if a foreign bidder gains control of the ASX company.
Two major government agreements announced today with Mitsubishi Heavy Industries and Austal have confirmed that Henderson will play a key role as Australia's shipbuilding precinct.
An $11 billion defence manufacturing contract is a key focus for a Japanese business group's trip to Western Australia this week, with ministerial meetings on the cards.
Andrew and Nicola Forrest's Tattarang has nominated former Credit Suisse Australia chief executive Richard Gibb to join the board of Henderson defence shipbuilder Austal.
The state government has struck a memorandum of understanding with the world's fifth-largest defence contractor, as it seeks to turbo-charge the growth of the industry in WA.
Mineral Resources, Iluka Resources and Pilbara Minerals were among the biggest losers on the ASX today as the market digests a weaker iron ore price and soft Aussie dollar.
The state's Business News BN30 Index raised its head above 200 points after dipping below that level yesterday for the first time in two and half years, weighed down by global volatility.
Austal chairman Richard Spencer says he does not believe Hanwha can add value to the Perth-based shipbuilder but nonetheless has agreed to meet with the South Korean company next week.
South Korean conglomerate Hanwha has once again fuelled takeover speculation around Austal after placing a high-priced order for 9.9 per cent of the shipbuilder's stock.
Austal has launched a $220 million capital raising to support its US operations, after which major shareholder Tattarang will get a board seat, while founder John Rothwell is selling down.
Tattarang's chief executive has opened up on wins and losses at Andrew and Nicola Forrest's private company and outlined plans for continued rapid growth.
The design search for a fleet of general purpose defence frigates to be largely built at Henderson has been narrowed down to two, with the federal government revealing its shortlist.
South Korean company Hanwha Ocean has walked away from its $1 billion pursuit of shipbuilder Austal, accusing the target of not engaging constructively in a due diligence process.
