Australian Submarine Corporation
 |
|
| Industry | Shipbuilding |
|---|---|
| Founded | 1985 |
| Founder |
Kockums Chicago Bridge & Iron Wormald International Australian Industry Development Corporation |
| Headquarters | Osborne, South Australia |
|
Key people
|
Mark Lamarre (CEO) |
| Products | Naval Vessels |
| Revenue |
 >$1 billion (FY2015) |
| Profit |
$22 million (FY2015) |
| Owner | Government of Australia |
|
Number of employees
|
Over 2,400 (2015) |
| Website | asc |
ASC Pty Ltd, formerly the Australian Submarine Corporation, is an Australian government business enterprise involved with Australian naval shipbuilding, headquartered in Osborne, South Australia. It is notable for the construction and maintenance of the Collins-class submarine fleet operated by the Royal Australian Navy (RAN) and the construction of three Hobart-class destroyers for the RAN with the first delivery expected in mid-2017.
The Australian Submarine Corporation was formed when Kockums (designer of the Collins class submarine) became part of a joint venture with the Australian branch of Chicago Bridge & Iron, Wormald International, and the Australian Industry Development Corporation to construct the six vessels.
The ASC construction facility was established on previously undeveloped land on the bank of the Port River, at Osborne, South Australia. Work on the site began on 29 June 1987, and it was opened in November 1989. South Australia had been selected as the site of the construction facility based on the proposed location of the facility and promises by the State Government to help minimise any problems caused by workers unions.
By the end of 1990, Chicago Bridge & Iron and Wormald International had both sold their shares in ASC. The shares were bought up by Kockums and the Australian Industry Development Corporation, with some of Kockums' shares then sold to James Hardie Industries to maintain an Australian majority ownership of the company. On 5 April 2000, the shares in ASC held by Kockums were bought out and the company was nationalised, despite a trend by John Howard's Coalition government towards privatisation of government-owned companies.
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Wikipedia