Austal to close its Tasmanian shipyard

Austal has announced what it terms "a rationalization of its Australian operations and workforce as a result of the impact of changed market demand for smaller sized vessels."

The rationalization will unfortunately result in the closure of Austal's Tasmanian operations at Margate in September 2010.

Austal Director - Sales and Australian Operations Andrew Bellamy commented: "Based on Austal's current assessment of the global market, the forecast demand for smaller passenger ferries and small patrol boats can be fully serviced out of the Henderson facilities in Western Australia.

"These changes are part of our ongoing effort to improve the level of efficiency and effectiveness of Austal's operations. We regret however that this will result in some reductions to our Australian workforce."

Austal's Tasmanian shipyard currently employs 121 people and will close upon completion of its current project.