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Thursday, July 07, 2011
Austal Awarded Construction Contract for JHSV 6 and 7
The U.S. Navy has exercised contract options funding the construction of the sixth and seventh Joint High Speed Vessel (JHSV), as part of a ten-vessel program potentially worth over US$1.6 billion. The construction contract for both vessels is valued at approximately US$313 million.
Austal Chief Executive Officer, Andrew Bellamy, noted that this contract demonstrates the U.S. Navy’s confidence in Austal as a leading defence prime contractor.
“With options remaining for a further three vessels, the JHSV program is expected to deliver a predictable revenue stream of AUD$330 million per annum from 2012 to 2015, which is approximately 60 per cent of Austal’s historical revenue.”
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