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Austal Limited’s (ASX:ASB) US division will build two additional Littoral Combat Ships for the US Navy, the fifth and sixth vessels in a 10 ship contract awarded in 2010.
The new ships carry a value of approximately $US681.7 million, with the entire 10 ship program potentially valued at $3.5 billion.
CEO Andrew Bellamy says Austal’s US Navy programs provide revenue for years to come.
President of Austal USA, Craig Perciavalle says the contracts confirm the Navy’s commitment to the Littoral combat ship program and to Austal.
Austal generated a net profit of $5.4 million in the first half of its 2013 financial year.
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