Australia Weighs Options For Submarine Builder (Apr. 5)
The Federal Government has today requested the Australian Industry Development Corporation (AIDC) to issue a notice (that is, to exercise its 'pre-emptive rights') to Kockums Pacific Pty Ltd in respect of its 49 percent shareholding in the Australian Submarine Corporation Pty Ltd (ASC) .
The AIDC became entitled to issue the notice following the acquisition of the Kockums Pacific Pty Ltd parent, Celsius Pacific AB, by SAAB AB, earlier this year.
The Government emphasised that the notice does not commit the AIDC to taking up ownership of the shares.
This action has been taken to preserve the Commonwealth's options in relation to ownership and control of ASC. The Commonwealth's principal objective in this matter is to ensure the best possible arrangements for bringing the Collins Class submarines to a fully operational state and supporting them throughout their operational life.
The Ministers said that in taking this step, the Government was not ruling out any options, including German submarine manufacturer HDW AG taking an equity position in ASC.
Minister for Defence, the Hon. John Moore and Minister for Industry, Science and Resources, the Hon Nick Minchin
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Government to Review Options forFuture Support of Collins Class Submarines
