Head of parent company says that Rusty Murdaugh was instrumental in landing work to fuel Austal USA's future.
A plasma cutter at Austal USA makes the "first cut" in plating that will become part of the Mobile shipyard's first steel ship, a Navajo-class towing, salvage and rescue ship built for the U.S. Navy.Along the way, work began to pile up. Austal has orders for U.S. Coast Guard Offshore Patrol Cutters , a massive Navy dry dock, T-AGOS 25 surveillance ships, modules for nuclear submarines and more.
Gregg said there was no immediate time frame for confirming a new president. The company said Wednesday that Michelle Kruger, Austal USA Vice President of Global Services and Support, had been named acting president. In the call, Gregg said that “we have an internal person we’re very happy with, operationally, that we’ll have a look at,” but that a global search for candidates had begun.
The T-ATS is a U.S. Navy ship that combines the capabilities of an oceangoing tug with those of a rescue and salvage ship.That dropped Austal Ltd.’s Earnings Before Interest and Taxes to a $4.8 million loss on the year. However, Johnstone and Gregg argued that Austal’s overall position was good: plenty of cash on hand, strong sales and, most importantly, billions of dollars in contracts to keep its workers busy.
Gregg has previously said that Austal will seek relief on the T-ATS contract. The timetable for any such relief is unknown. Gregg said Wednesday that more recent contracts included “robust cost escalation protections.”
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