Australia to create three state companies to support ships, submarines
These three new companies will support the key capabilities of shipbuilding, submarine sustainment, and infrastructure.
The separation of ASC will deliver a more flexible approach to managing the investment required in shipbuilding infrastructure to support the Government’s historic continuous shipbuilding program.
The new submarine sustainment and shipbuilding companies will continue ASC’s important role in the sustainment of the Collins Class submarines and finalisation of the Air Warfare Destroyers respectively.
The creation of these three new companies follows a strategic review of ASC, which was conducted in 2015. The review sought to identify the best possible corporate, capital and governance arrangements to help maximise the future success of ASC and the Australian naval shipbuilding industry.
These changes will have no impact on ASC employees’ current terms and conditions and will provide the right structure for the growth of the workforce as a result of major infrastructure investment and the construction of Offshore Patrol Vessels, Future Frigates and Future Submarines.
Work will begin immediately to separate ASC into the three new companies, with the full separation expected to be completed in 2017. ■