Civmec to Acquire Luerssen Australia for AU$20 Million

MT Newswires

06/26

Civmec (SGX:P9D) entered into a binding agreement with NVL Australia to acquire Luerssen Australia for AU$20 million, according to a Thursday filing with the Singapore Exchange.

The acquisition is part of the company's move to consolidate its presence in the Australian shipbuilding industry.

Luerssen Australia is a specialist naval shipbuilding company, which was established to deliver Royal Australian Navy's Arafura Class Offshore Patrol Vessels.

Shares of the company were up nearly 2% in recent trading.

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