News Articles for Austal

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.

Austal increased its net profit after tax by $13.1 million to $25.1 million during the first six months of the 2025 financial year.

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.

Paddy Gregg-led Austal has secured a contract with Swedish firm Gotlandsbolaget, valued approximately between $265-275 million.

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.

Warship-scale deals could prove the catalyst to unlocking much-needed infrastructure on the Henderson waterfront.

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.

Austal will expand production capacity at its US shipyard after signing a $670 million contract with a major US defence contractor.

ANALYSIS: The new chair of defence shipbuilder Austal, Richard V Spencer, has a résumé tailor-made for capitalising on Aukus opportunities.

Shipbuilder Austal delivered improved financial results for the full year, despite paying a sizeable settlement that was offset through a major US land transaction.

Henderson-headquartered Austal has agreed to pay $35 million penalty to settle an investigation over former US employees allegedly manipulating its financial reports.

Henderson shipbuilder Austal has announced its US subsidiary has been awarded a $US54 million contract extension for the construction of two additional vessels for the navy.

Henderson-based ship builder Austal has won a $45 million contract to build a wind-powered trimaran cargo vessel for French company Vela Transport.

An as-yet-uncosted dry dock will be a necessary component of the Western Australia's AUKUS partnership responsibilities, according to acting Prime Minister Richard Marles.

Acting Prime Minister Richard Marles has backed Australia's preparation for any potential conflict in the years ahead, on the first morning of the largest defence gathering in state history.

Austin Engineering has announced David Singleton’s successor, appointing non-executive director Sybrandt Van Dyk as managing director and chief executive from July 1 2025.

The federal government has accelerated a plan to deliver 18 medium landing craft for the Army's new littoral fleet, to be built by Austal at the Henderson shipyard.

Defence shipbuilder Austal has announced founder John Rothwell step down as chair but will remain on the company's board as a non-executive director.

Henderson-based Austal has received an order for two additional Guardian-class patrol boats from the federal government, valued at approximately $39 million.

The commander of the United States' Pacific naval fleet has accused China of unlawful and coercive behaviour while flagging the iron ore trade's potential deterrence value

Our board moves wrap includes Michelle Kruger, Francisco Bellon, Charles Mowrey, Greg Lee, Steven Michael, Chris van Wijk, Nhlanhla Nene, Shannon Coates

Mark Beyer and Mark Pownall discuss changes at BGC, APM and Austal ownership, Quintis in receivership, and home market data.

Defence industry shipbuilder Austal has confirmed it has received an unsolicited takeover offer from South Korean firm Hanwha Ocean Co, but has poured cold water on a deal for now.

Our board moves wrap includes Michael McCormack, Don Lindsay, Ian Cockerill, Jeremy King, Mark Hohnen, Robert Black, Gavin Ryan, William Foster, Geoff Newman, Matt Freedman, Mark Connelly, Suzie Foreman, Jon McLoughlin, Nicole Duncan, Peter Sullivan, Rebecca Hayward, Gillian Swaby, Nick Cernotta, Susan Park, Mark Bolton, and Robert Klug.

The state government says recent national data that suggests a fall in the number of defence industry businesses in Western Australia does not paint a true picture of the sector's growth.

Shipbuilder Austal has been awarded a contract to design and construct a 71-metre passenger cargo vessel that is worth up to $40 million.

Defence shipbuilder Austal believes a turnaround in its long-term order book will help it attract workers across from the battery minerals sector to its Henderson shipyard.

Defence shipbuilder Austal will build two additional Evolved Cape-class patrol boats for the Australian Navy, in a contract announced a week after an asylum seeker boat arrived at Beagle Bay.

Shipbuilders Austal and Luerssen have responded to yesterday's $11 billion Naval fleet announcement, which will have significant implications for ongoing works at Henderson.

Western Australia will be a significant beneficiary of an $11 billion investment to double the size of the nation's Navy surface combatant fleet, according to Prime Minister Anthony Albanese.

Austal has appointed Kathryn Toohey AM as non-executive director.

WA Labor raised more than $6.7 million last financial year across the board, almost $2 million more than the Liberal Party's state division.

Henderson shipbuilder Austal has secured a $1.28 billion contract from the United States Navy to construct three enhanced medical support ships.

Last month's announcement by Austal is a significant moment for the future of the WA defence industry.

In this podcast: Mark Beyer and Mark Pownall discuss FMG; Austal; IR reforms; office occupancy; Burswood Park; apartment dramas; Scyne Advisory; CEO salaries and WA's biggest employers.

A heads of agreement anointing Henderson-based Austal as the nation's strategic shipbuilder of choice in WA will guarantee the industry's local future, according to the federal government.

Nadia Budihardjo and Claire Tyrrell discuss the onset of high-rise development in South Perth.

Henderson shipbuilder Austal, construction and engineering company Civmec and Spain's Navantia Australia have joined forces in a bid to deliver six warships for the Royal Australian Navy.

Local companies and people made their mark at the sector's annual awards night in Canberra.