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Austal Acquires Philippines Shipyard

Leading global shipbuilder and defence prime contractor Austal has acquired a shipyard in the Philippines as part of its strategy to regionalise its manufacturing base for commercial vessels. The $7 million acquisition of the former FBMA Marine shipyard enables Austal to establish shipbuilding operations at the West Cebu Industrial Park at Balamban, in the province of Cebu. Austal will invest a further $5 million to enhance the shipyard’s existing facilities.