November 16, 2023 -- Austal Australia has entered a Memorandum of Understanding (MOU) with Harland & Wolff Group (AIM: HARL) to pursue shipbuilding opportunities in the United Kingdom.
The MOU, signed at the 2023 Indo Pacific Maritime Exposition in Sydney, includes the transfer of technology, skills, and shipyard capabilities required to build the next generation of patrol vessels for the United Kingdom for maritime security agencies.
Both parties have identified opportunities in the UK market, including the Border Force vessel replacement programme, and intend to work jointly in a non-exclusive partnership on such opportunities.
Austal Limited Chief Executive Officer Paddy Gregg said the MOU was the first step towards winning new business in the United Kingdom, collaborating with Harland & Wolff, an established manufacturing, services and support company operating in the maritime defence industry.
“Harland & Wolff is an ideal partner for Austal in the pursuit of defence opportunities in the United Kingdom with the facilities, expertise and capabilities to effectively pursue and help deliver new vessels for organisations such as the UK Border Force. We look forward to collaborating with Harland Wolff on new opportunities that leverage Austal’s proven leadership in aluminium patrol boat design and construction.”
At a glance
- Company
- Austal Australia
- Announcement
- Partnership
- Location
- Sydney, Australia
People
- Paddy GreggAustal Limited Chief Executive Officer
- Ian McMillanAustal Australia Chief Operating Officer
- John WoodHarland & Wolff Group Chief Executive Officer
- Oliver MortonHarland & Wolff Chief Sales Officer
Products and programs
John Wood, Group Chief Executive Officer of Harland & Wolff said “I am delighted to have signed this MoU with Austal, a global leader in the aluminium vessel market. As we embark on the next phase of the Company’s growth and development, we will be partnering with Austal not only for the transfer of technology to build aluminium vessels but to also join hands with them when bidding for contracts. Austal’s skills and decades of experience in the aluminium build space and border security vessels are second to none. I look forward to working closely with them to build the next generation shipyard capability for aluminium vessels in the UK.”
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Austal Limited Chief Executive Officer Paddy Gregg and Austal Australia Chief Operating Officer Ian McMillan met with John Wood, Group Chief Executive Officer and Oliver Morton, Chief Sales Officer from Harland & Wolff at the 2023 Indo Pacific Maritime Exposition in Sydney to confirm an MOU to pursue shipbuilding opportunities in the United Kingdom. (Photo: Austal)
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FURTHER INFORMATION
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Questions around this news
What does the Austal Australia–Harland & Wolff MOU cover?
The memorandum outlines a non-exclusive partnership to pursue shipbuilding opportunities in the United Kingdom. It includes transferring technology, skills and shipyard capabilities needed to build a new generation of patrol vessels for UK maritime security agencies. The companies also said they intend to work together when pursuing relevant opportunities.
Which UK shipbuilding opportunity is mentioned in the MOU announcement?
The release identifies the UK Border Force vessel replacement programme as one opportunity in the market. It does not say that either company has secured a contract or been selected to build replacement vessels; the companies describe the MOU as a way to pursue opportunities jointly.
What does a non-exclusive partnership mean in a shipbuilding agreement?
A non-exclusive partnership allows the parties to work together while generally leaving them free to pursue other partners or opportunities as well. The precise rights and limits depend on the agreement’s terms. In this release, the companies describe their intended collaboration as non-exclusive, but do not provide further contractual details.
What is a memorandum of understanding (MOU)?
A memorandum of understanding is a document that records areas of shared intent or an agreed framework for cooperation. Its legal effect depends on its wording and the circumstances; the label alone does not establish whether particular commitments are legally binding. Here, the release describes an MOU to pursue shipbuilding opportunities.
