Austal Aquisition Expands Asia-Pacific Capabilities

Press Release
Friday, October 05, 2012
Agreement Handshake: Photo credit Austal

Austal acquires Hydraulink NT and its associated business KM Engineering (HKME) in Darwin, Australia,

HKME is a leading engineering service provider in northern Australia with well-established operations supporting the Royal Australian Navy (RAN) and Australian Customs and Border Protection Service. HKME also has strong relationships with oil and gas sector participants.

Austal Chief Executive Officer Andrew Bellamy said the acquisition signals Austal’s commitment to supporting RAN and Customs and Border Protection operations. “Supporting the Royal Australian Navy and Australian Customs and Border Protection Service is core to Austal’s long-term success. With HKME, Austal presents a robust capability tailored to supporting the Austal-built Armidale Class Patrol Boat fleet and the forthcoming Cape Class Patrol Boat fleet,” he said.

Mr Bellamy added that the acquisition directly addresses the needs of the US Navy, with whom Austal has contracts to build Littoral Combat Ships (LCS) and Joint High Speed Vessels (JHSV).

”There is also potential for significant growth as a result of HKME’s relationships with oil and gas sector participants. Resource projects, most notably INPEX’s $33 billion Ichthys LNG development, are forecast to generate considerable demand for our skills both afloat and ashore,” he said.

In the photo: HKME Directors Stuart Kenny (left) and Greg McKechnie (centre) complete the agreement with Austal's Chief Operating Officer - Service and Sytems, Charles McGill


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