Austal Limited (AU:ASB) has released an update.
Austal USA, a division of Austal Limited, has secured a contract modification worth US$55 million to build two more Landing Craft Utility (LCU) 1700-class vessels for the US Navy, bringing the total to five LCUs under construction. This contract reflects the Navy’s confidence in Austal USA’s steel shipbuilding capabilities at their Alabama facility, following a successful start on the initial LCU craft. The LCU 1700-class are heavy-lift vessels designed to transport military equipment and personnel in support of amphibious operations.
For further insights into AU:ASB stock, check out TipRanks’ Stock Analysis page.
