Paddy Gregg says he's disappointed Austal was excluded from the decision-making process, and was given no insight into the "strict conditions" placed on Korean giant Hanwha's bid to double its stake in firm.
South Korean chaebol Hanwha has been given the greenlight to double its stake in Australia's sovereign shipbuilder Austal following months of deliberation by Treasurer Jim Chalmers.
As the USS Vermont undergoes a landmark overhaul in WA, the prime minister faced questions over Austal's future ownership and the broader industrial readiness needed for Aukus.
Paddy Gregg says he'll "be a little mischievous" and probe Anthony Albanese on the Foreign Investment Review Board decision on the company's ownership at a dinner in Perth tonight.
Australia's sovereign submarine builder and sovereign shipbuilder have signed an agreement to collaborate on workforce development and 3D printing opportunities.
Richard Marles found out the US greenlit South Korean companies to build submarines on US soil via a Trump social media post, as an update on Hanwha's bid to increase its Austal stake continues to be delayed.
Anxiety over the protracted Foreign Investment Review Board decision on Hanwha Group's proposed increased stake in Austal was central to shareholder concerns at the shipbuilder's AGM today.
The federal government has confirmed it will lend Austal $100 million to support growth at the company's Alabama shipyard, in a cross-border backing of the defence shipbuilder's ambitions.
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.
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.
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.
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 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.
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.
Austal chairman Richard Spencer says he does not believe Hanwha can add value to the Perth-based shipbuilder but nonetheless has agreed to meet with the South Korean company next week.
Austal has launched a $220 million capital raising to support its US operations, after which major shareholder Tattarang will get a board seat, while founder John Rothwell is selling down.
Shipbuilder Austal delivered improved financial results for the full year, despite paying a sizeable settlement that was offset through a major US land transaction.
The commander of the United States' Pacific naval fleet has accused China of unlawful and coercive behaviour while flagging the iron ore trade's potential deterrence value
Defence shipbuilder Austal believes a turnaround in its long-term order book will help it attract workers across from the battery minerals sector to its Henderson shipyard.
Defence shipbuilder Austal will build two additional Evolved Cape-class patrol boats for the Australian Navy, in a contract announced a week after an asylum seeker boat arrived at Beagle Bay.
In this podcast: Mark Beyer and Mark Pownall discuss FMG; Austal; IR reforms; office occupancy; Burswood Park; apartment dramas; Scyne Advisory; CEO salaries and WA's biggest employers.
A heads of agreement anointing Henderson-based Austal as the nation's strategic shipbuilder of choice in WA will guarantee the industry's local future, according to the federal government.
Henderson shipbuilder Austal, construction and engineering company Civmec and Spain's Navantia Australia have joined forces in a bid to deliver six warships for the Royal Australian Navy.
Shipbuilder Austal will book a $13.8 million loss for the year, as had been foreshadowed, and start a global hunt to find a new president for its US operations to replace Rusty Murdaugh.
Shares in Austal sink as it unveils what chief executive Paddy Gregg says is a “clearly disappointing” financial result stemming from the shipbuilder's US operations.
