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Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh ( (AU:CVL) ) has issued an update.
Civmec Limited announced progress on the transfer of ownership of Luerssen Australia Pty Ltd, which is constructing Arafura Class Offshore Patrol vessels for the Royal Australian Navy. The ownership transfer includes all assets and employees, with a revised effective date set for 1 July 2025, contingent upon Commonwealth consent and due diligence completion. A Service Level Agreement has been established to enhance program efficiencies, allowing Civmec to provide shipbuilding services to Luerssen Australia until the transfer is complete, improving the operational efficiency of the SEA 1180 project.
More about Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh
Civmec Limited operates in the engineering and construction sector, focusing on shipbuilding and defense contracts. The company is involved in the design and construction of naval vessels, primarily serving the defense industry.
YTD Price Performance: 3.12%
Average Trading Volume: 180,698
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$671.3M
See more insights into CVL stock on TipRanks’ Stock Analysis page.
