The Board and Management of Australian submarine and shipbuilder ASC today welcomed the Federal Government’s announcement to separate the company into three businesses.
The formal separation of ASC into shipbuilding, submarine sustainment and infrastructure companies builds upon the company’s already successful operating model and positions the company to support Australia’s future shipbuilding and submarine capability.
ASC Chairman Bruce Carter said the Board had been working closely with Government on this issue and had effectively been operating separate submarine and shipbuilding businesses for the last two years.
“This operating model has enabled each business to focus its attention and allocate resources to deliver on their programs and pursue opportunities for future work. It has been a major contributing factor in the company’s turnaround in the Collins Class submarine and Hobart Class air warfare destroyer programs,” he said.
Mr Carter said there will be no change to ASC’s involvement in its current programs.
“The separation of ASC into three businesses will ensure that the company is best- placed to support the future needs of Australia’s naval industry.”
“The last two years has seen a remarkable turnaround in Collins Class submarine availability and the Hobart Class air warfare destroyer program is now meeting its schedule milestones and we expect our improved productivity to continue,” Mr Carter said.