Mobile, Alabama, May 01, 2018 (GLOBE NEWSWIRE) --
Austal USA announced today it has acquired privately held ElectraWatch, Inc. in an all cash stock purchase. The transaction is expected to be immediately accretive to earnings and the business will remain a standalone business, part of the Austal USA portfolio.
Headquartered in Charlottesville, Virginia, ElectraWatch is a technology leader in developing and deploying portable probe devices that help efficiently maintain aluminum structures. The acquisition reinforces Austal USA’s position as a global leader in aluminum ship manufacturing and sustainment and extends its ability to support the U.S. Navy fleet where nearly every ship includes aluminum structures.
“The combination of ElectraWatch patented technology along with Austal USA’s advanced ship manufacturing and sustainment expertise reinforces the company’s position as an industry leader to efficiently support the aggressive shipbuilding and sustainment requirements from our U.S. Navy customer,” said Craig Perciavalle, president of Austal USA. “As innovative technology reaches deeper into shipbuilding construction and sustainment, we remain laser focused at providing cost-effective solutions to our customers.”
As both the designer and prime contractor, Austal USA manufactures the Independence-variant Littoral Combat Ship (LCS) and Expeditionary Fast Transport (EPF) for the U.S. Navy with both programs on schedule and on budget. The company delivers two LCS and two EPF per year with the capacity to increase its manufacturing rate at its 166-acre facility and headquarters in Mobile, Alabama. Eight LCS (even numbered LCS 2 through 16) and nine EPFs (T-EPF 1-9) have been delivered to date. Austal USA was also one of five prime contractors awarded a concept design contract for the U.S. Navy’s future guided missile Frigate (FFG(X)) while its EPF is also being considered to support permanent medical ship operations.
About Austal USA
Austal USA is an advanced ship manufacturer, servicer and sustainment provider. Headquartered in Mobile, Alabama with facilities in San Diego, Singapore and Washington, D.C., the company employs nearly 4,000 people and designs and constructs two ship programs for the U.S. Navy – Independence-variant Littoral Combat Ship (even numbered hulls) and Expeditionary Fast Transport (EPF). The company’s supplier network includes over 1155 companies across 44 states supporting more than 34,000 U.S. jobs. Austal USA entered the defense market in 2004 and through its innovative ship manufacturing processes, quickly became the fifth largest shipbuilder in North America. www.USA.Austal.com
About ElectraWatch, Inc.
Headquartered in Charlottesville, Virginia, ElectraWatch is a technology leader in developing and deploying non-destructive, portable probe devices that measure aluminum sensitization. The company’s patented technology is self-contained and easily deployable around the world to meet and support its customers’ needs. Utilizing an electrochemical methodology, ElectraWatch engineers replicated laboratory testing measurements within a portable DoS Probe that yields a fast, accurate measured result without removing test samples from a ship and sending to a laboratory. The company supports multiple shipbuilders, maintenance providers and the U.S. Navy across a broad range of military ships currently deployed in the U.S. fleet.
www.ElectraWatch.com