News Articles for Austal

Shipbuilder Austal has signed a $305 million contract to build and maintain Pacific Patrol Boats for the Australian government, however the contract's price tag was smaller than what the Commonwealth had flagged.

The federal government has signed a $2 billion contract with a group of defence contractors that will ensure maintenance of ANZAC class frigates continues at Henderson for the next eight years.

A state industry plan has some positives but don't look to the past for jobs policy.

The state's shipbuilding industry has had a big win, with the federal government selecting Austal to build 21 Pacific Patrol Boats at its yard in Henderson in a contract worth at least $500 million.

A group of 30 Western Australian stocks selected by Business News has significantly outperformed the ASX200 in the March quarter, indicating stock investors are optimistic about the state's economic future.

Mark Pownall and 720Drive presenter Jane Marwick speak with Austal CEO David Singleton, X-press Magazine founder Joe Cipriani and Kalgoorlie-Boulder Chamber of Commerce & Industry CEO Hugh

Local shipbuilder Austal has received an order from the US Navy for construction of an 11th littoral combat ship, with the deal worth up to $US564 million ($A735 million).

Henderson-based shipbuilder Austal's long-running relationship with the US Navy has generated more work, with the company receiving a $US13.9 million ($A18.1 million) addition to a previously awarded contract.

Offshore oil and gas services firm Aecor Group has expanded through the acquisition of industrial rope access and inspection company Vertical Services.

Austal has doubled its interim dividend after growing revenue and boosting its cash flow, despite posting a 41.8 per cent fall in profit for the six months to December.

A recent addition to the Business News offering is keeping track of WA's performance on the markets this year. The opening weeks have not been good.

Austal chief executive Andrew Bellamy is quitting after five years in charge of the Henderson-based shipbuilder.

Shipbuilder Austal has won a $US51.7 million ($A71.8 million) contract to provide upgrade services to the company's biggest customer, the US Navy.

SPECIAL REPORT: One of the few positives in a tough year for business was the gold sector, and at the forefront was Northern Star Resources, under the leadership of Bill Beament.

Austal has won a $63 million contract to build two patrol boats for the Australian Department of Defence, with the terms of the deal signed with National Australia Bank including a buy-back clause.

Shares in shipbuilder Austal plummeted 25 per cent today on news that problems at its US operations could shave up to 2 per cent off its profit margin there.

A technology company led by former Alinta Energy boss Bob Browning is seeking an ASX listing through a reverse takeover of Perth-based Cove Resources.

Australia's defence capability acquisition projects have a poor historical record in terms of cost and schedule, largely due to Canberra's failure to acknowledge and support reliable industry performance.

The Australian Submarine Corporation should be privatised, while Australian workers have the capability to produce defence projects locally, Austal chief executive Andrew Bellamy said today.

Shipbuilder Austal has built on its relationship with the US Navy, winning a $US53.5 million ($A75.3m) contract to procure materials for a new vessel.

Decmil Group founder and director Denis Criddle has spent another $500,000 buying shares in the contracting company, adding to a string of big trades by company directors includng his son Scott Criddle, Chris Ellison, John Rothwell and Enzo Gullotti over the past month, according to BNiQ data.

Under new PM Malcolm Turnbull, WA has numbers in cabinet not seen since the Hawke-Keating era.

The founder and non-executive chairman of Henderson-based shipbuilder Austal has sold down a portion of his shareholding in the company for $7.24 million.

Shipbuilder Austal has shone in the quarterly rebalance of the S&P/ASX indices, while many local miners and contractors have lost their status.

Shipbuilder Austal grew net profit after tax almost 70 per cent in the past financial year, to $53.1 million, on the back of improved margins.

The federal government's $89 billion spend for new naval vessels represents an opportunity for businesses at the Australian Marine Complex in Henderson, as energy and resources projects dry up.

Shipbuilder Austal has won a $26 million contract to build a high-speed catamaran crew boat for an unnamed operator based in South-East Asia.

Shipbuilder Austal has won a $44.5 million contract to build a 70-metre crew boat for an Azerbaijan-based marine services business.

Henderson-based Austal has been awarded an $US11 million ($A14.1 million) cost-plus addition to its contract to build a Littoral Combat Ship for the US Navy.

Austal's littoral combat ship program with the US Navy has earned the shipbuilder an $8.5 million contract extension to provide studies and review efforts to reduce costs.

Shipbuilder Austal has reported a 208 per cent rise in profit to $28.9 million for the six months to December and declared its first dividend since 2011.

Perth's APE Mobile has been pipped at the final post in the OzApp Awards, part of the West Tech Fest, with Sydney-based childcare application Kind

Shipbuilder Austal says it will be awarded a $US14.4 million contract modification in support of the US Navy's Littoral Combat Ship program.

Fledging Perth technology company APE Mobile has struck deals with some of the largest civil engineering contractors and secured Perth business leader Giles Everist to join its board.

Two Melbourne-based foreign exchange brokerage founders have been named the Ernst & Young 2014 Australian Entrepreneurs of the Year, with Aurora Oil and Gas founder Jonathan Stewart also being named one of six category winners.

Global private equity group Denham Capital has teamed up with former Karara Mining chief executive Steve Murdoch to establish a venture that will invest in a handful of new and established mining projects.

The combined wealth of WA's richest public company directors fell by around $3 billion in the past year, but some individuals bucked the trend.

The US Navy has extended its contract with shipbuilder Austal for the charter of its WestPac Express vessel, under a deal potentially worth about $US29.9 million.

Jim McDowell will join Austal's board as a non-executive director in December, following non-executive director Dario Amara's decision not to stand for re-election at the company's annual meeting i

Design work is nearly complete for the world's largest trimaran yacht, to be built at the Australian Marine Complex in Perth's southern suburb of Henderson.