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Austal Limited (ASX:ASB) has won a $US125 million contract from a naval customer in the Middle East, not named due to a customer confidentiality agreement.
Under the deal the ship building company will design, construct and provide integrated logistics support for two 72 metre High Speed Support Vessels.
Austal will undertake the work at its shipyard in Henderson in Western Australia this year and expects to deliver the second vessel by 2016.
CEO Andrew Bellamy says the contract reflects Austal’s strategy of pursuing higher-value, defence vessel export opportunities in new markets.
The contract follows on from Austal’s 10-ship Joint High Speed Vessel contract for the US Navy.
Austal reported a net profit of $9.5 million in the first half of its 2014 financial year.
News: Austal wins Middle East vessel contract
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