04/05/2022 - 16:21

Austal scores $325m in US works

04/05/2022 - 16:21

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Henderson-based shipbuilder Austal has received yet another lucrative contract with the US government.

Austal scores $325m in US works
Paddy Gregg has led Austal as chief executive since 2020. Photo: Gabriel Oliveira

Henderson-based shipbuilder Austal has received yet another lucrative contract with the US government.

Austal has previously built 12 expeditionary fast transport ships for the US navy and is currently constructing three more at its shipyard in Mobile, Alabama.

These ships are generally used for humanitarian assistance and disaster relief, as well as maritime security and surveillance missions.

Austal will now build a 16th ship for the US navy with enhanced medical and aviation capabilities at an estimated project value of $325 million.

Chief executive Paddy Gregg said these ships would further enhance the country's naval capabilities.

“We are delighted to see the EPF platform being deployed globally and we’re excited to begin production of another highly capable ship for the United States Navy," he said.

Today's news will be a boon for Austal, which disclosed to the market in March that it had lost a major contract to build offshore patrol vessels for the Philippines navy.

That project was budgeted at about $785 million and was roughly equal to Austal's global revenue in the first half of this financial year.

Shares in Austal were trading at $2.04 at 4pm AEST.

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