AUSTAL AND ASC SHIPBUILDING RE-COMMIT TO SOVEREIGN NATIONAL SHIPBUILDING ENDEAVOUR

MEDIA STATEMENT

THURSDAY, 17TH AUGUST 2017

AUSTAL AND ASC SHIPBUILDING RE-COMMIT TO SOVEREIGN NATIONAL SHIPBUILDING ENDEAVOUR

Australia’s leading warship builders, Austal Limited (ASX: ASB) and ASC Shipbuilding, today re-asserted their support for Federal Government policy to establish continuous sovereign Australian warship construction for Australia and export markets.

In June Austal and ASC Shipbuilding announced a teaming agreement to support the SEA5000 Future Frigates program by offering a compelling, low risk, Australian shipbuilding solution for each of the three shortlisted international designers: BAE of the United Kingdom, Fincantieri of Italy and Navantia of Spain.

Following yesterday’s media report on the SEA5000 Request for Tender (RFT), Austal Chief Executive Officer David Singleton and CEO – ASC Shipbuilding Mark Lamarre reaffirmed their shared position.

To enhance Australia’s national security, our local defence industry, shipbuilding sovereignty and export opportunities, ASC Shipbuilding and Austal are committed to working with all of the three designers vying to be the prime contractor for the Future Frigate program.

Although the Austal - ASC Shipbuilding team are currently not part of the tender process, we stand ready to engage with all of the three shortlisted international designers, and the Commonwealth Government, to ensure the SEA 5000 program receives the benefit of our low risk, commercially proven, sovereign capability. This engagement can be achieved in a timely manner that does not put at risk commencement of frigate construction in Adelaide in 2020.

ASC Shipbuilding and Austal fully support the Government’s strategic goal to build a home-grown, continuous sovereign shipbuilding and export industry. ASC Shipbuilding and Austal look forward to the opportunity to leverage our existing capabilities including proven shipbuilding expertise, demonstrated export experience, skilled workforce and established Australian supply chains, in support of this important national endeavour.

The $35 billion Future Frigate program will deliver replacement vessels for the existing ANZAC fleet, with production likely to commence from 2020 at the Federal Government-owned shipyard in Osborne, South Australia

ENDS

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