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Austal assesses Asian investment opportunities

20 August 2019
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Australian shipbuilder Austal has confirmed that it is assessing opportunities to further expand its profile in the Asia Pacific. The confirmation comes following reports that the company is looking to invest in a shipyard in Subic Bay in the Philippines.

Austal said in a recent statement that the company has made “major investments in its Australasian shipyards, including in the Philippines, and is continually assessing opportunities to further expand its operations if they create additional shareholder value”.

The company added, however, that there is “no certainty that any additional expansion opportunities will be either pursued or completed”.

In its statement Austal also acknowledged media reports that the company is part of a consortium that is in negotiations to purchase the Hanjin Heavy Industries and Construction (HHIC) shipyard at Subic Bay in the Philippines.

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