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U.S. Navy spends $369M on Ausssie vessels

Finance, Industrial
ASX:ASB      MCAP $1.118B
27 March 2019 05:46 (AEDT)

Image Sourced Austal Limited

Australian ship-builder, Austal Limited has been assigned a $369 million contract which will see a total of 14 new vessels build for the U.S.

Navy. The Expeditionary Fast Transport Ships program (EDF) is an ongoing project which is worth over US $2 billion.

“We have a proven ability to build these cost-effective vessels efficiently at our state-of-the-art manufacturing facility in Mobile, Alabama and as a result they will continue to underpin the shipyard for several years to come.

“The extension of this program to 14 vessels is a result of the versatility of the EPF platform to perform an increasing range of roles for the U.S. Navy combined with the confidence our customer has in it. We continue to believe that the EPF vessel, in various configurations, has a long future ahead of it,” Austal CEO, David Singleton said.

Please find announcement attached

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