Today's announcement.
AUSTAL RECEIVES US NAVY SUPPORT FOR ALABAMA MODULAR MANUFACTURING FACILITY
Austal is pleased to announce that its American subsidiary, Austal USA, has finalised an agreement with the US Navy in which a portion of the costs of its planned modular manufacturing facility will be reimbursed. The expansion will be completed in two phases. The agreement with the US Navy will deliver milestone payments totalling US $33 million to Austal USA during the construction and completion of Phase 1 of the facility.
It's good to see a bit of fundamental good news blow out all the shorts and their stop losses.
Today's announcement.AUSTAL RECEIVES US NAVY SUPPORT FOR ALABAMA...
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