VEEM Secures $65 Million Defense Contract Renewal with ASC

Veem Ltd ( (AU:VEE) ) just unveiled an announcement.

VEEM Limited has secured a six-year, $65 million contract renewal with ASC Pty Ltd to supply critical components for Australia’s Collins Class submarines, reinforcing its longstanding relationship and reputation in the defense sector. The contract is expected to boost orders in FY26, particularly in the second half, aligning with the company’s growth trajectory and strategic focus on the defense segment, despite a recent decline in ASC revenue.

The most recent analyst rating on (AU:VEE) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Veem Ltd stock, see the AU:VEE Stock Forecast page.

More about Veem Ltd

VEEM Limited is a designer and manufacturer of high-technology marine propulsion and stabilization systems, catering to the global luxury motor yacht, fast ferry, commercial workboat, and defense industries. The company is recognized for its precision engineering and is the sole Australian supplier of Flowserve Flow Control (UK) Ltd Defense valves, specifically for the Collins Class submarine ball valves.

Average Trading Volume: 77,237

Technical Sentiment Signal: Buy

Current Market Cap: A$134.6M

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