Hi Specwarop..
I think one of the big issues ensuring future contracts is the Austal yards in Mobile, Alabama are responsible for the livelihood of 4,000 people and that..... “ Austal said its relationship with the U.S. Defense Department “remains strong,” and cited a joint investment of $100 million that will help the company expand into steel vessels.”
That excerpt is from a local news source with long term interest in and insight into the US branch;
Here’s more :
.... “Austal USA is one of the Mobile’s biggest employers, with a workforce of around 4,000 people. It currently builds two aluminum vessels for the U.S. Navy, the Independence-class Littoral Combat Ship and the multipurpose Expeditionary Fast Transport.
Law enforcement agents raided Austal USA offices in January 2019, though little information was released at the time or since. Austal USA said it was “working with the U.S. Navy on an open investigation.”
In the same time frame, Austal Ltd. Announced that it was the subject of an investigation by Australian authorities, related to actions affecting the stock market in 2016. An Australian news outlet, the West Australian, reported more specifically that the Australian Securities and Investments Commission was interested in market announcements made by Austal “leading up to its warning of a $122 million annual loss in June 2016.”
Monday’s announcement from Austal Ltd. Addresses “separate but related investigations” being conducted by regulatory authorities in the United States and Australia, plus an additional investigation conducted by “external lawyers in the U.S.” hired by Austal and Austal USA....”https://www.al.com/news/mobile/2021...al-usa-ceo-has-resigned-shipbuilder-says.html
It went on to say that the resigned Craig Perciavalle had not been directly named in relation to the issues over which he resigned.
Market announcements leading up to the profit warning related to June 2016 FWIW :
cheers
(20min delay)