Austal awarded new US Navy contract

Company News

by Rachael Jones

Austal (ASX:ASB) has received an award from the United States Department of Defence of over US$23 million for support activities on the USS Tulsa.

This is in addition to the US$21 million contract Austal was awarded in January 2019 for the USS Manchester.

Both are Independence-variant Littoral Combat Ships manufactured by Austal.

To date Austal has delivered 10 LCS vessels with a further nine vessels on order, all of which will undergo regular maintenance and dry docking activities to maintain fleet availability during the life of the ship class.

Shares in Austal (ASX:ASB) are trading 4.42 per cent lower at $3.79.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.