Defence and communications manufacturer Electro Optic Systems has executed a recovery reporting an underlying EBITDA profit of $11.5 million for the half ended 30 June, compared to an Underlying EBITDA loss of $14.8 million in the previous corresponding period. The manufacturer of remote weapons systems used in Ukraine reported group revenue of $142.6 million for…
By Peter Roberts Defence Minister Richard Marles is comfortable with the possibility of Australia’s most successful locally owned defence manufacturer, Austal, falling to overseas ownership. I, for one, am not. In April Korean defence group Hanwha bid to buy Austal, emerging into the open after months of speculation that the company was a takeover target.…
What were the five biggest stories of the week? Here’s what visitors to this site were reading. 5) Arthur Sinodinos replaces co-founder as Chair at Hypersonix Hypersonic vehicle developer Hypersonix Launch Systems has announced former Australian Ambassador to the United States and Senator Arthur Sinodinos as the new Chair of its board. In a statement…
By Peter Roberts Korean defence group Hanwha has made a bid to buy one of the few Australian-owned defence prime contractors, shipbuilder Austal, and take it into foreign control. The bid was confirmed this morning by the Perth shipbuilder, which has expended from aluminium ferry building to become a major defence shipbuilder in Australia and…
