South Korean shipbuilder Hanwha has submitted a $1 billion bid to acquire Austal USA, the American subsidiary of Australian shipbuilder Austal. Austal has also revised its financial outlook and shifted from a projected $77.6 million profit (AUD 110 million) to a $79.73 million loss (AUD 113 million). This loss comes from contract disputes which remain unresolved with the U.S. Department of Defence over surface ship projects at Austal’s shipyard in Mobile, Alabama. Established in 1999, Austal USA originally focused on aluminium vessels, such as the Independence-class Littoral Combat Ship and Spearhead-class transports. We are not liable for any loss or damage arising from the use of this website.