Civmec Set to Acquire Luerssen Australia

Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh (AU:CVL) has released an update.

Civmec Limited, an Australian construction and engineering firm, is poised to acquire Luerssen Australia Pty Ltd, with plans to take over the construction of six Arafura Class Offshore Patrol vessels for the Royal Australian Navy. The agreement awaits due diligence, conditions precedent, and crucial consent from the Commonwealth. The move by Civmec, which has been involved in the project since 2018, is expected to ensure a smooth transition and continued efficiency in the vessel’s production.

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