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Civmec secures ASX listing ahead of OPV build

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As West Australian industry gears up for the Offshore Patrol Vessel (OPV) project, Civmec Construction and Engineering has completed its listing on the ASX ahead of the commencement of the build of the 10 vessels in 2020.

Listed on the Singapore Exchange since 2012, the Australian-owned and operated Civmec said this listing will allow the company to continue to build on its reputation for redefining complex manufacturing and bringing world-class projects back onshore.

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From its site in Henderson Western Australia, Civmec has built complex structures, including offshore oil and gas sub-sea structures for Shell’s Prelude Floating Liquified Natural Gas (FLNG) development, Gorgon LNG and Wheatstone LNG projects.

Civmec has also worked on a range of public works including Optus Stadium, the Matagarup Bridge, Northwest Rail Link and WestConnex.

Executive chairman James Fitzgerald said the company is now looking forward to becoming a leader in shipbuilding and construction.

"At Civmec, we are excited about bringing more skills back home to Australia, proving this nation’s manufacturing can be competitive on the world stage," Fitzgerald said.

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"With our listing on the ASX, Civmec is ideally positioned to strengthen its position in Australia’s fast-growing engineering and construction sector."

Having established a marine and defence division in September 2015, the company has undertaken a successful expansion into the defence and naval shipbuilding sector, including the construction of the largest undercover shipbuilding facility in the southern hemisphere at Henderson in WA.

In April 2018, Civmec was awarded a contract with Lürssen, the prime contractor for the Australian government’s OPV program, to build 10 OPVs in the facility.

In late May, Civmec announced it was establishing the Australian Maritime Shipbuilding and Export Group (AMSEG) with Lürssen. AMSEG has been formed to develop a new, world-class sovereign shipbuilding capability, one that leverages the export potential into Asian markets.

Patrick Tallon, CEO of Civmec, said the company sees strong growth prospects on the horizon.

"With our past and current projects predominately delivered by our Australian workforce on Australian soil and our growth prospects mainly focused on the Australian market, we see the ASX listing as a natural move to reinforce our home identity," Tallon said.

Civmec will commence trading on the ASX on 22 June 2018 at 12pm AEST under the ASX code CVL.

 

 

Civmec secures ASX listing ahead of OPV build
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