News Articles for Austal

Austal has projected a marginal decrease in earnings this financial year on the back of an expected $200 million dip in revenue.

Austal will acquire Queensland-based BSE Maritime Solutions Group for $28 million in a bid to boost the shipbuilder's share of maintenance and support work.

Austal has strongly denied allegations of unethical behaviour after reports emerged the Australian Border Force had funnelled $39 million to the ASX-listed shipbuilder.

The federal government's $1.5 billion plan to kick start the nation's manufacturing sector presents a once in a lifetime opportunity to restructure the economy.

There's unprecedented investment in Australia's defence industry manufacturers as the government embarks on the most significant armed build-up in a generation.

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Bassendean business Hofmann Engineering illustrates both the opportunities and challenges facing WA as the government seeks to expand manufacturing.

Austal recorded revenue of more than $2 billion this past financial year driven largely by the company's ongoing expansion into the US market.

Austal has struck an agreement to buy additional land near its shipyard in the US and foreshadowed plans to expand its shipbuilding and repair operations.

Digital technology's growing influence on defence has prompted Henderson-based shipbuilder Austal to appoint vice-president Andrew Malcolm to the newly-created role of chief digital officer.

Austal will invest up to $US100 million in its Alabama shipyard after securing $US50 million through US defence production laws intended to support the local steel industry.

Shipbuilder Austal has appointed chief operating officer Patrick Gregg to lead the company next year, replacing current chief executive David Singleton, whose contract is due to end in December.

Henderson-based shipbuilder Austal has raised its full-year revenue guidance by $100 million, saying the coronavirus pandemic has had minimal impact on its operations over the past two months.

Austal has won a $324 million contract to design and construct six evolved Cape-class patrol boats for the Royal Australian Navy, while also announcing it was not successful in the bid for a contract with the US Navy.

Since the early part of the year when the pandemic first hit China hard, it has exposed a sovereign risk that we were all acutely aware of but, due to expedience, had allowed to increase over recen

Austal's Alabama shipyard has propelled the Henderson-headquartered shipbuilder to a record half-year earnings performance and a solid lift in net profit.

Austal has been awarded a $16 million contract by Africa-based ferry operator SGTM to undertake construction of a 41-metre, high-speed catamaran.

Our comprehensive annual survey of chief executive remuneration shows wide variation across companies.

Henderson-based shipbuilder Austal will construct its largest ferry to date after finalising a $136 million follow-up order with Danish ferry operator Molslinjen.

Mining technology company Imdex is the latest addition to the BN30 index, Business News's Western Australian equivalent of the Dow Jones index on the New York Stock Exchange.

Another flurry of substantial share transactions from directors of Perth-based ASX-listed companies have occurred recently following the release of annual results, with David Singleton, Elizabeth Gaines and Rodney Leonard among those involved in the largest deals.

Investors have welcomed Austal's announced that it lifted full-year profit 64 per cent to a record $61.4 million, underpinned by strong revenue from its US Navy programs.

Henderson-based shipbuilder Austal has finalised a $126 million contract to build two vessels for the government of Trinidad & Tobago by the second half of 2020.

Austal has secured a $US23 million ($34 million) contract with the US Department of Defence, and addressed media reports of a possible Philippines expansion.

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A group of emerging Perth minds is using machine learning for everything from power grids to poetry.

Seven West Media has been booted from the S&P/ASX 200 Index, while local shipbuilder Austal will join the benchmark, following the quarterly rebalancing of the Australian share market indices.

Austal chief executive David Singleton believes the shipbuilder needs to gain a critical mass of female workers to permanently make an impact on gender equality in the industry.

Shipbuilder Austal has turned two major challenges – a cyber attack and the loss of a big naval contract – into positives, chief executive David Singleton told a Business News Success & Leadership breakfast today.

State government owned Gold Corporation is Australia's third biggest manufacturing business, according to data published by Ibisworld today, with revenue of $18.9 billion in the year to June 2018.

Over the years, WA business has finessed its offering, from commodities to services, the arts and sophisticated technologies.

Henderson-based shipbuilder Austal has secured a $369 million contract to supply two Expeditionary Fast Transport ships (EPF) to the US Navy.

Austal is on a recruitment drive for an extra 260 Western Australian workers to fill vacancies at its Henderson facility.

Shipbuilder Austal has increased its shareholder payout after announcing a two per cent lift in first-half profit on its expanding US Navy and commercial ferry work.

Kate Lamont and Fiona Wood laid out ambitious plans when they joined other business leaders, including John Rothwell and Tony Joyner, speaking at BN's 25-year anniversary lunch.

Henderson-based shipbuilder Austal has increased its full-year revenue projections to $1.9 billion, thanks partly to better-than-expected procurement levels from the US Navy for its littoral combat ships.

US federal agents have conducted a search at Austal's offices in Mobile, Alabama, in relation to an inquiry by the Australian Securities and Investments Commission into announcements the shipbuilder made in late-2015 and mid-2016.

Austal disclosed today that the corporate regulator is investigating announcements in late 2015 and mid 2016 that triggered a sharp fall in the ship builder's share price.

The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.