Post by ferryfast admin on Nov 8, 2011 10:59:25 GMT -5
Austal USA parent purchases shipyard in Philippines
Updated: Monday, November 07, 2011, 9:21 AM
Dan Murtaugh, Press-Register
blog.al.com/press-register-business/2011/11/austal_usa_parent_purchases_sh.html
MOBILE, Alabama -- Austal Ltd., the parent company of Mobile shipbuilder Austal USA, announced it purchased the former FBMA Marine shipyard in the Philippines to build commercial vessels.
Austal officials said the acquisition of the yard, in West Cebu Industrial Park near the city of Balamban, cost 7 million Australian dollars ($7.2 million). Austal will invest A$5 million more to upgrade the facility.
The company announced last month it was close to finalizing a purchase of a shipyard in Asia. In July, the Cebu Daily News reported that Austal officials were developing a facility there.
The purchase is part of the company's plan to move commercial production of ships like passenger ferries and crew transfer boats for offshore energy companies out of Australia, where a strong currency has made it difficult to build ships at competitive prices.
The company's shipyard in Henderson, Australia, will take its cue from its sister facility in Mobile and focus on defense contracting. The Mobile yard has two deals with the U.S. Navy to build transport ships and small warships designed to operate in coastal waters.
In the Philippines, Austal said it will be able to begin shipbuilding in early 2012, depending on its ability to get orders. It will start with 30 workers, it said in a news release.
Austal Chief Executive Officer Andrew Bellamy said the Philippines operation will not have an effect on Austal USA.
Austal now has an order book of approximately $1.8 billion, nearly all of it related to defense work and over 80 percent attributable to our U.S. operations," Bellamy said. "The new shipyard in the Philippines provides the right foundation to grow that order book further through increased commercial vessel sales."
Updated: Monday, November 07, 2011, 9:21 AM
Dan Murtaugh, Press-Register
blog.al.com/press-register-business/2011/11/austal_usa_parent_purchases_sh.html
MOBILE, Alabama -- Austal Ltd., the parent company of Mobile shipbuilder Austal USA, announced it purchased the former FBMA Marine shipyard in the Philippines to build commercial vessels.
Austal officials said the acquisition of the yard, in West Cebu Industrial Park near the city of Balamban, cost 7 million Australian dollars ($7.2 million). Austal will invest A$5 million more to upgrade the facility.
The company announced last month it was close to finalizing a purchase of a shipyard in Asia. In July, the Cebu Daily News reported that Austal officials were developing a facility there.
The purchase is part of the company's plan to move commercial production of ships like passenger ferries and crew transfer boats for offshore energy companies out of Australia, where a strong currency has made it difficult to build ships at competitive prices.
The company's shipyard in Henderson, Australia, will take its cue from its sister facility in Mobile and focus on defense contracting. The Mobile yard has two deals with the U.S. Navy to build transport ships and small warships designed to operate in coastal waters.
In the Philippines, Austal said it will be able to begin shipbuilding in early 2012, depending on its ability to get orders. It will start with 30 workers, it said in a news release.
Austal Chief Executive Officer Andrew Bellamy said the Philippines operation will not have an effect on Austal USA.
Austal now has an order book of approximately $1.8 billion, nearly all of it related to defense work and over 80 percent attributable to our U.S. operations," Bellamy said. "The new shipyard in the Philippines provides the right foundation to grow that order book further through increased commercial vessel sales."