Austal Limited (AU:ASB) has released an update.
Austal Limited has secured a significant US$516 million ($A779 million) contract modification from the US Navy for the construction of the T-AGOS 25 ocean surveillance ship, with the potential for the total contract value to reach US$3.195 billion if all options are exercised. This contract enables the company to order the necessary long lead items to continue the ship’s design and construction, bolstering their position as a major player in the defense sector and reflecting their growth as the world’s largest aluminum shipbuilder. The T-AGOS ships are vital for the US Navy’s anti-submarine warfare missions, enhancing naval capabilities in both the Atlantic and Pacific Fleets.
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