Austal Limited (ASX: ASB) has been selected to construct eight Landing Craft Heavy vessels based on Damen’s Landing Ship Transport 100 (LST100) design. The vessels will be built at the…
https://gcaptain.com/austal-tapped-to-build-australias-new-heavy-landing-craft/
Korean conglomerate Hanwha has officially withdrawn its takeover bid for Australian defense shipbuilder Austal, citing insurmountable obstacles in conducting due diligence. Following the acquisition of the former Daewoo Shipbuilding and…
https://gcaptain.com/hanwha-abandons-austal-takeover-bid-amid-due-diligence-dispute/
Austal USA broke ground on its planned final steel assembly facility Tuesday, the company announced in a statement.
The building and waterfront support area is expected to include a new assembly building, a new ship lift system and waterfront improvements, the company said in the release. Austal predicts it will be finished by summer 2026.
The 192,000-square-foot, three-bay building expands the shipyard’s ability to build steel ships....
https://news.usni.org/2024/07/09/austal-usa-breaks-ground-on-new-steel-assembly-facility
Australian shipbuilding legend John Rothwell is to step down as as chairman of Austal Limited (ASX: ASB). He will be succeeded by former U.S. Secretary of the Navy Richard Spencer.
Rothwell, the architect responsible for the establishment of Austal, will now serve on the Austal board as a non-executive director. His retirement as chairman marks a significant milestone in the history of the, company having served in the position for 37 years since he founded Austal in 1987. In that time Austal...
May 31 (Reuters) – Austal Ltd has secured a $516 million contract to construct the lead ship of the United States Navy’s ocean surveillance program, T-AGOS 25, the Australian defence shipbuilder said in an exchange filing on…
https://gcaptain.com/austal-usa-wins-516-million-contract-to-construct-navy-ocean-surveillance-ship/
As we reported earlier, South Korea’s Hanwha Group has submitted an indicative offer to acquire the global business of Austal USA’s Australian parent, Austal (ASX:ASB), through a scheme of arrangement that would see Austal shareholders receive AUD 2.825 cash per Austal share.
In ASX trading on April 1, Austal’s share was trading in a range of AUD 2.320 – AUD 2.440. Today’s range was AUD 2.320 – AUD 2.460.
In a press release today, Hanwha says that it “brings important capabilities and investment...
https://www.marinelog.com/shipbuilding/hanwha-makes-its-case-for-austal-acquisition/
Rumors that Australian shipbuilder Austal Limited (ASX:ASB) was the target of a takeover bid have been circulating since last July. Now, it seems, there’s some truth in one of them. In an April 1, ASX stock exchange filing, Austal (which is, of course, the parent of Austal USA) confirmed that it has confirms it received an unsolicited, conditional and non-binding indicative proposal from Korea’s Hanwha Ocean Co., Ltd under which Hanwha would acquire Austal by way of a scheme of arrangement that...
https://www.marinelog.com/news/austal-confirms-takeover-offer-from-hanwha-ocean/
By Scott Murdoch and Shivangi Lahiri April 2 (Reuters) – Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($661.9 million) takeover offer from South Korea’s Hanwha Ocean.KS as it was unlikely…
https://gcaptain.com/austal-rejects-takeover-proposal-from-hanwha-ocean/
Austal and Gotlandsbolaget have signed a Memorandum of Understanding to develop a construction contract for the ‘Gotland Horizon X’ catamaran concept, first announced in April 2023. ‘Gotland Horizon X’ is a high-speed aluminium catamaran that will utilise gas turbines in a combined cycle to...
Two Australian shipbuilders with significant U.S. presences chose Mobile, Ala., to announce today that they are teaming up for an Australian Army landing craft project. The two companies, Austal Ships Pty Limited (Austal) and Birdon Pty Limited (Birdon) reported that they have signed a Memorandum of Understanding (MoU) to jointly develop defense shipbuilding capability in Western Australia to deliver the Australian Department of Defence Landing Craft-Medium (“LC-M”) Project.
The formation of the...