Austal bounces back

Western Australian shipbuilder Austal Ships has bought a piece of waterfront land at Henderson, picking up the site near its main enterprise from the State Government.

The deal, announced by Planning and Infrastructure Minister Alannah MacTiernan, resulted in Austal purchasing a 3.6 hectare lot for $2.69 million from LandCorp and securing a two-year option on an adjacent 3.5 hectare lot.

Austal Ships’ managing director Mr Bob McKinnon said the acquisition ensured the company would have sufficient strategic land to increase the size of operations.

The move follows a wave of good news for Austal after it rode out a tough year last year.

A joint venture in the US, deals with the US military and several luxury craft deals have helped underpin the business during a troubled time for the big fast ferry manufacturers.

Tasmanian-based rival Incat has not managed to diversify its operations and has been forced to seek assistance from the Federal Government.