Austal Awarded Construction Contract for JHSV 4 and 5

Navy Exercises Contract Options less than a Month after Start of Construction for JHSV 2 Austal received word today to move forward with the construction contract for the fourth and fifth vessels of the U.S. Department of Defense’s next generation multi-use platform, the Joint High Speed Vessel (JHSV), as part of a program potentially worth over US$1.6 billion. Austal received funding previously from the Navy, valued at US$99,557,548, to acquire long lead-time material, to include diesel engines, water jets and reduction gears, for these two vessels in June 2010. The additional work is valued at approximately US$204.6 million.