Henderson-headquartered shipbuilder Austal will cancel construction of two US Navy towage and rescue boats after reaching an agreement to mitigate blown out construction costs.
Defence Minister Richard Marles says he won't get ahead of himself, despite reports this morning the Pentagon had concluded its review of the AUKUS pact, and that Australia's submarine deal was safe.
Perth-based extended reality specialists Vection Technologies have signed a record $22.3 million deal with a NATO-approved customer in Europe for the supply of its IntegratedXR platform.
ASX-listed contractors Ventia, Downer and Service Stream have been awarded Department of Defence asset management contracts with a combined value of $7.3 billion.
Seven West Media chair Kerry Stokes has been ordered to pay $13.5 million, as the financial backer of Ben Roberts-Smith who lost his defamation action against Nine newspapers.
Shares in Austal continued their strong run today after the shipbuilder secured a further $US314 million ($480 million) of work with the United States Coast Guard.
Takeover target Austal’s founder John Rothwell has resigned from the board of the shipbuilder he built after 38 years, as a call looms on Hanwha's pursuit of a major stake.
Defence-focused shipbuilder Austal dramatically increased its net profit result in FY25, recording a 503 per cent jump from $14.9 million to $89.7 million over 12 months.
Dual-listed Civmec recorded a 34 per cent net profit drop to $42.5 million last financial year, but insists the future is bright with a record order book worth $1.25 billion.
The federal government has formalised its agreement with a new subsidiary of Austal, in a move which confirms its status as a strategic shipbuilder of choice.
The state has more than doubled the size of its envoy to a bi-annual defence conference abroad and brought in a former opposition leader, in its push to scale up the sector.
Hofmann Engineering has become the first local business to be greenlit to supply parts for US navy assets, in a move the nation’s leaders say is a strong sign for an Aukus future.
Richard Marles has danced around questions of whether the Henderson defence precinct could be transformed into a joint-US base, after an ex-PM suggested the move.
The Maritime Union of Australia has hit out at the state government’s planning in Cockburn Sound, claiming its Westport development cannot coexist with an Aukus base in the area.
The Australian government will be able to buy Austal's Henderson shipyard and take over its local defence-focused operations if a foreign bidder gains control of the ASX company.
The PM’s recent business-focused diplomatic mission to China coincided with the start of a significant show of military strength by the US and Australia.
Two major government agreements announced today with Mitsubishi Heavy Industries and Austal have confirmed that Henderson will play a key role as Australia’s shipbuilding precinct.
Defence and gold drove the growth in value of Western Australia’s listed companies last financial year, fueled geopolitical uncertainty and economic instability.
Australia's national security chief has detailed 24 cases in which authorities were able to disrupt espionage activities targeted at Australians since 2022 - more than the prior eight years combined.
Engineering firm Duratec has bought out Canning Vale-based industry peer EIG Australia in a deal worth $9 million, in a move to boost its fuel and electrical infrastructure offerings.
