ASB 0.95% $3.19 austal limited

navy gives ok for new construction

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    MOBILE, Ala. - Its more work for Austal in Mobile.

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    The company says it received authorization from the US Navy to begin construction on the first of up to ten 103-meter Joint High Speed Vessels (JHSV). The first one will be called the Fortitude.

    The ships will provide rapid deployment and transportation of personnel, equipment and supplies.

    Fortitude will be the first Austal design to be constructed using the procedures developed in conjunction with Austals recently-competed Module Manufacturing Facility in Mobile.

    Austal USA is also currently building two 127-meter Littoral Combat Ships (LCS) for the US Navy, with the first, Independence (LCS 2), scheduled for completion by the end of the year.

    Asked if the project would create new jobs in Mobile, Austal representative Michelle Bowden said, "This will allow us to continue to follow our hiring plan."

    I'm surprised there is no announcement..


    Austal in Mobile will build up to 10 vessels like this for the US Navy (Courtesy Austal/US Navy)


    Austal in Mobile will build up to 10 vessels like this for the US Navy (Courtesy Austal/US Navy
 
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