Image Sourced Austal Limited
The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

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

ASB by the numbers
More From The Market Herald
The Market Herald Video

Income Asset Management taps investors for $4m

Income Asset Management (ASX:IAM) has received commitments for $4 million in funds in its latest placement.

AML3D inks contract with defence giant BAE

Metallic-based 3D printing specialist AML3D (AL3) has announced its execution of a contract with multinational defence…

Plenti shares rocket as small loan provider teams up with NAB

Plenti (ASX:PLT) shareholders are having a fantastic day. The catalyst? The listed small loan provider has…

Namoi Cotton shares soar on non-binding indicative offer from LDC

Namoi Cotton (ASX:NAM) shares are soaring after LDC made a non-binding indicative offer to acquire the…