ASX-listed shipbuilder Austal has received a $25 million time and material (T&M) contract from General Dynamics Electric Boat for structural assembly fabrication in support of the US Navy Virginia Class submarine initiative.
This award is a continuation of previously announced efforts to support Electric Boat in work for the US Navy submarine industrial base.
The earlier contract to train employees, according to Austal CEO Paddy Gregg, was a crucial enabler for the current award.
“This style of contract is recognition of Austal’s shipbuilding expertise and provides important revenue diversification and expansion,” Mr Gregg said.
Founded in 1988, Austal is Australia’s global shipbuilder and defence prime contractor designing, constructing and sustaining commercial and defence vessels.
The company delivers monohull, catamaran and trimaran commercial vessel platforms – including what the company claims as the world’s largest trimaran ferry and multiple defence programs such as the Littoral Combat Ship (LCS) and Expeditionary Fast Transport (EPF) for the United States Navy.
