Austal Awarded Construction Contract for JHSV 2 and 3

The US Navy has exercised contract options funding the construction of two additional Austal Joint High Speed Vessels (JHSV) – as part of an existing 10-vessel, AUD$1.8 billion program. Austal previously received US Navy funding for long lead-time material, including diesel engines, water jets and reduction gears, for these two vessels in June 2009. The additional work is valued at approximately AUD$225 million. Intended as the US Department of Defense’s next-generation multi-use platform, the two 103 metre high speed vessels will be constructed at Austal’s US facility, located in Mobile, Alabama. Austal was selected as Prime contractor for the JHSV program in November 2008, which included construction of the first JHSV and options for nine additional vessels to be exercised between FY09 and FY13. Construction of the first Austal JHSV commenced in December 2009.