- Austal’s (ASB) subsidiary, Austal USA, has been awarded a US$2 million (A$2.8 million) contract for the US Navy’s Next Generation Logistics Ship (NGLS) program
- Under the contract, Austal will undertake new baseline design and specific trade studies for the Navy’s newest logistics ship
- The US Navy’s NGLS program is a new class of medium-sized, at-sea supply ships intended to support small surface combatants
- Austal ends the day in the grey with shares trading at $1.88
Austal’s (ASB) subsidiary, Austal USA, has been awarded a US$2 million (A$2.8 million) contract for the United States Navy’s Next Generation Logistics Ship (NGLS) program.
Under the contract, Austal will undertake new baseline design and specific trade studies for the Navy’s newest logistics ship.
The US Navy’s NGLS program is a new class of medium-sized, at-sea supply ships intended to support small surface combatants. The NGLS fleet will re-fuel, re-arm and resupply navy vessels.
CEO Paddy Gregg said this contract was another significant step forward in Austal USA’s expansion into steel naval ship design and construction.
“Adding to the concept design work Austal is already undertaking for the US Navy’s Light Amphibious Warship (LAW) program and the recent construction contract for up to five Towing, Salvage and Rescue (T-ATS) ships, this contract further demonstrates Austal USA’s capabilities and commitment to steel naval ship design and construction,” Mr Gregg said.
Austal has ended the day in the grey with shares trading at $1.88 in a $680.2 million market cap.