Austal USA awarded up to US$3.3 billion contract for 11 United States Coast Guard offshore patrol cutters

Austal Limited (ASX: ASB) announced that Austal USA had signed an agreement with the United States Coast Guard for the detailed design and construction of up to 11 Offshore Patrol Cutters for US$3.3 billion. The construction is forecasted to start in 2023. The 110-meter Offshore Patrol Cutters will be constructed at Austal USA’s new US$100 million steel shipbuilding facility in Mobile, Alabama.

Now the company anticipates its FY2022 EBIT will be higher than the earlier forecast of US$107 million. Austal Limited is not yet in a position to quantify the extent of the EBIT uplift and will inform shareholders as soon as the higher EBIT is calculated.

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