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Tuesday, February 28, 2012

Austal to build more JHSVs for US Navy

[USS Spearhead (JHSV 1)]The United States Navy has exercised contract options funding the construction of the eighth and ninth Joint High Speed Vessels (JHSVs).

The contract is valued at US$321.7 million, taking the total value of JHSV work awarded to Austal to approximately US$1.45 billion.

The options increase Austal's total order backlog to nearly $2.2 billion, with shipbuilding work secured for the US operation through to mid-2016 and to mid-2015 for the Australian shipyard.

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