Austal Limited (ASX: ASB) reports that the United States Coast Guard has exercised options with its Austal USA subsidiary worth US$314 million (The contract options approve Austal to order long lead time
Image: ESG/USCG
Austal Limited (ASX: ASB) reports that the United States Coast Guard has exercised options with its Austal USA subsidiary worth US$314 million (The contract options approve Austal to order long lead time materials LLTM) for another three Offshore Patrol Cutters (OPCs), Austal USA’s fourth and sixth cutters. Funds have also been provided for logistic supply items for two OPCs.
The original OPC contract was awarded to Austal USA in June 2022 for detail design and construction of up to 11 OPCs, with a potential value of US$3.3 billion. To date, two of 11 OPCs in the contract have been awarded to Austal USA, as well as LLTM for a third.
“These early awards reflect the strong partnership that has quickly developed between the Coast Guard and Austal USA teams, and provide an important sign of intent for OPCs 3-6,” said Austal Limited CEO Paddy Gregg.
Work on Austal USA’s first OPC, Pickering (WMSMS 919), is well
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