Australian builder Austal has acquired a shipyard in the Philippines as part of a strategy to regionalise its manufacturing base for commercial vessels.
The AU$7 million (US$7.25 million) acquisition of the FBMA Marine shipyard, formerly owned by the Aboitiz family, will enable Austal to establish shipbuilding operations at the West Cebu Industrial Park at Balamban, Cebu province. Austal will invest a further AU$5 million to enhance the shipyard's existing facilities.
Austal plans to commence vessel construction in the first quarter of 2012, dependent on orders, and expects to employ about 30 personnel during the start-up phase. Future workforce growth is expected in line with market demand, and the site allows for efficient expansion of the facility when future operational and market conditions require.
Austal CEO Andrew Bellamy said the acquisition of the former FBMA shipyard is an important milestone in Austal's corporate strategy to meet the requirements of key commercial vessel markets by further regionalising its shipbuilding operations.
"Our strategic review earlier this year found that there is strong demand in specific segments of the international commercial vessel market, such as fast crew transfer boats, workboats and 30-metre to 50-metre ferries," he said. "With our Australian and United States manufacturing operations increasingly defence focussed, we identified the need to regionalise our manufacturing base in order to be successful in those commercial vessel markets."
At the Philippines shipyard, Austal will primarily construct small and medium-sized aluminium passenger ferries, workboats and transfer vessels such as Austal's Wind Express series of wind-farm support vessels. The shipyard is purpose-designed and built for building aluminium vessels of that size and type and will also have the skilled workforce and facilities to be able to undertake service and maintenance work. The Philippines shipyard has a history of aluminium vessel fabrication, and has previously delivered medium and high-speed ferries, patrol boats and specialist workboats to operators based in Europe, Mexico, Australia and Asia.
The acquisition of the Asian shipyard will have no adverse effects on Austal's Australian and US operations, with both manufacturing facilities currently under contract for several significant multi-vessel, multi-year defence programs. Austal is retaining its large commercial vessel manufacturing capability in Australia.