ASX:ASBAerospace & Defense
Austal (ASX:ASB) Is Up 11.7% After Securing New A$1.0–1.3 Billion Defence Contract
In recent months, Austal Limited finalized a Strategic Shipbuilding Agreement with the Australian Government, appointing Austal Defence Australia as prime contractor for Tier 2 surface combatants under an initial A$1.00–A$1.30 billion contract, while also funding U.S. shipyard expansion through a capital raise to support larger U.S. Navy vessels.
This combination of a long-term Australian defence framework and enlarged U.S. capacity could reshape Austal’s contract pipeline, capital needs,...