Austal Limited (ASX:ASB) clarified a media report in The West Australian newspaper today which refers to “an update to shareholders” about the future of the Company’s shipbuilding operations in Australia.
Austal has not provided a separate update to shareholders about the Company’s operations, however at its Annual General Meeting on Friday October 27, 2017 it did refer to the future of those operations if it won the Federal Government’s Offshore Patrol Vessel program.
In the CEO’s presentation to shareholders, which was lodged with the ASX on the same day and incorporated Austal CEO David Singleton’s speaking notes, Mr Singleton said: “This (OPV ) program is the single most important project Henderson has ever bid or is likely to bid as it creates a backbone of work for the next 15‐ 20 years. It ensures Henderson survives. Other Defence, commercial and sustainment work will see Henderson develop further.”
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