ASB 0.82% $1.84 austal limited

Launches Aussie Rules

  1. 7,397 Posts.

    A good sound company in this current world environment ,,
    Has recently opened up in U.S and sold a ship to U.S.Defence department and new orders could be possible ,
    just finishing “The Sharks” new luxury boat here in Perth which will cruise the world and guarantee more orders of its type

    Check the details for yourself at
    52-Week Range: 111-170

    Current Bid: 133
    Current Ask: 133
    Total Class Issue: 192,911,873

    Net Tangible Assets ($/share): -
    Code: ASB Div. Payable Date: 25-Oct-2002
    Open: - Ex. Div. Date: 14-Oct-2002
    Day High: - Franked Pct: 100%
    Day Low: - Status: Normal
    Trades: 0 Earnings/Share: 16.3
    Volume: 0 Div. Rate/Share: 5
    Value: $0 P/E: 8.16
    Market Cap (Undiluted): 256,572,791

    Shipbuilder gets bites from Shark deal
    From The Australian

    AS construction of an $80 million motorised yacht for golfer Greg Norman nears completion, West Australian boatbuilder Austal Ships is counting the benefits of its most high-profile assignment.

    Three new orders for similar luxury launches have been placed by overseas buyers, and the company is competing strongly for the federal Government's $300 million patrol boat contract.

    Austal is up against two tough competitors, Tenix -- a ship-building company that has hired the services of former defence minister Peter Reith to provide "strategic guidance" -- and Australian Defence Industries.

    Austal managing director Bob McKinnon said yesterday that Norman's 69.5m yacht Aussie Rules, due to be launched in October, had lifted the company's profile.

    "Austal has for many years been well-known as a leader in the manufacture of ferries, but this boat really gave us a lot of profile around the world and showed these guys can build anything," he said.

    "The world's yacht-buyers are now saying, 'Well, if Greg Norman will buy a boat from these guys ... they must have something'."

    Aussie Rules will be the world's biggest private luxury aluminium yacht when its hull is lowered into the water in about three months.

    The 900-tonne yacht, designed for 12 guests and 14 crew, features a large sundeck, cinema, observation lounge, bar, gym and jacuzzi, as well as 200 fishing rods, a fleet of jet skis, kayaks and scuba diving facilities.

    It has five levels, seven different tender vessels -- including a $600,000 custom-made sports fishing boat -- and can travel for three months without refuelling or getting fresh supplies.

    Mr McKinnon said the three new contracts secured by Austal since the Norman commission two years ago were already under construction.

    He said Austal was well-placed to win the contract to build replacements for the Fremantle-class patrol boats, which will be announced by the end of the year.

    "We have got proven capability across a whole range of different sorts of vessels ... and we are the commercial yard in this whole deal," he said. "That means we can build on time and on budget."

    Austal has already built patrol boats for Australian customs as well as a 101m high-speed commercial vessel for the US Marines

    Austal USA Sells Third Vessel into New York Market


    HOMEX - Perth


    Representing the third contract signed for the New York market in six
    months, Austal Limited subsidiary, Austal USA has secured an order
    for a 43 metre passenger catamaran for well-established New York
    operator, Circle Line-Statue of Liberty Ferry, Inc.

    Valued at approximately A$12 million, the high speed aluminium ferry
    will transport 600 passengers at a speed of up to 29 knots, providing
    harbor sightseeing cruises, evening dinner cruises and longer
    distance runs.

    Austal Managing Director, Mr Bob McKinnon said the contract was
    another step in Austal becoming a major supplier of aluminium vessels
    to the US domestic market.

    "This order is another significant achievement for Austal USA,
    indicating that our forecast demand for high speed aluminum ferries
    in the US is being realised, Mr McKinnon said.

    "Austal USA continue to develop skills and expertise with these new
    builds, positioning them well to continue to win orders for this type
    of craft and larger vessels."

    The success in securing orders to date has prompted Austal USA to
    substantially increase its sales capability to capitalise on the
    company's growing reputation in North America.

    The planned expansion of shipbuilding facilities at Austal USA will
    enable the yard to build larger defence and commercial vessels such
    as the 86 metre catamaran now under construction at Austal's WA
    facilities for operation across Lake Ontario between Rochester, New
    York State and Toronto, Canada.

    "As well as being attractive contracts in their own right, each one
    of these orders further enables us to develop our US capabilities,"
    Mr McKinnon added.

    Circle Line transports thousands of passengers each day to the Statue
    of Liberty and Ellis Island and the new 43 metre catamaran will be
    their first aluminum fast ferry, designed to meet Circle Line's
    requirements for a vessel capable of fulfilling a number of different

    Commenting on the new contract, Circle Line's Chief Executive
    Officer, Mr Kevin Moran said, "This new vessel gives Circle Line the
    flexibility to provide an all-encompassing fleet to better serve the
    expansion of waterborne entertainment and transportation in the New
    York harbour."

    The catamaran is scheduled to enter service in early July 2003 and
    the New York operator has an option to purchase a second vessel from
    Austal USA.

    For further information:
    Bob McKinnon, Managing Director, Austal Limited
    Claire Stannard, Public Relations Co-ordinator
    Tel: 61 8 9410 1111, Fax: 61 8 9410 2564, After Hours: 0439 968 516
    Email: [email protected]

    Change in substantial holding from CBA


    HOMEX - Perth

    Commonwealth Bank of Australia increased its relevant interest in
    Austal Limited on 05/09/2002, from 10,775,543 ordinary shares (5.59%)
    to 12,669,030 ordinary shares (6.57%).

    Sells First Vehicle-passenger ferry to North America


    HOMEX - Perth

    Austal Limited subsidiary, Austal Ships is pleased to announce the
    signing of a contract with private company, Canadian American
    Transportation Systems (CATS) for an 86 metre high-speed catamaran.

    Valued at approximately A$80 million, the vessel will provide a new
    service route between Rochester and Toronto across Lake Ontario,
    connecting the United States and Canada.

    Austal Managing Director, Bob McKinnon said the contract has the
    potential to open more markets for Austal vessels in North America.

    "This is the first Austal vehicle-passenger ferry for North America
    and I am certain this vessel will make a strong impression in a
    market with further potential," Mr McKinnon said.

    "While diversification remains important to Austal Group performance,
    our ability to continue to win large orders like this contributes to
    our international reputation as a market leader for this type of

    "This contract comes at a time when the United States Military is
    seriously considering a range of options involving the use of
    high-speed vessels and this contract can only serve to further
    demonstrate the capability of Austal," he said.

    Due for delivery in August 2003, the vessel will operate at a speed
    of approximately 40 knots for the two-and-a-half-hour journey and
    will have the capacity to carry 774 passengers and 238 cars


    HOMEX - Perth

    ANZ Banking Group Limited became a substantial shareholder in Austal
    Limited on 30/04/2002 with a relevant interest in the issued share
    capital of 16,050,284 ordinary shares (8.32%).

    ] Austal net up 110pc to $30.4m; final dividend 5c
    11:10, Tuesday, 20 August 2002

    Sydney - Tuesday - August 20: (RWE) - Austal Ltd lifted net
    profit 109.6 per cent to $30.37 million in the 12 months to June 30 from
    $14.49 million for the previous year.
    Revenues for the WA shipbuilder were up 76.6 per cent to $343.6
    million from $194.5 million.
    Earnings per share were 16.3c, up from 9.1c.
    Final dividend is a fully franked 5c, payable on October 25 to
    shareholders registered October 18.
    This is the company's first dividend since 2000.
    Managing director Mr Bob McKinnon said the performance was in
    line with prospectus forecast.
    "The past financial year has been pleasing with the results of
    our product diversification evidenced by the range of deliveries made
    and orders secured," Mr McKinnon said.
    "The success of the 101-metre theatre support vessel with the US
    Marines has opened up other opportunities for military applications with
    the US defence.
    "The interest in these vessels bodes well for the future of
    Austal USA," he said.
    While the market for large vehicle-passenger ferries remained
    lower than desired, opportunities in the military vessel and luxury
    motor yacht markets offered potential for future growth of the group.
    Austal rose 6c to $1.29.

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