Australia’s next-gen submarines will be armoured with Bisalloy’s high-tech steel
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Specialised high-performance steel plates required for Australia’s next generation submarine fleet is made in one place outside of France — and that’s Wollongong.
Federal defence minister Christopher Pyne today announced steel maker Bisalloy — which is based in Wollongong — had won a contract to produce up to 250 tonnes of its specialised armour.
“This will be the first time Australian industry has attempted to make this particular type of steel, demonstrating the ongoing opportunities for local industry within the Future Submarine Program,” Mr Pyne said.
“It’s great news for local workers and shows the confidence we have in Australian companies to contribute to this massive $50 billion dollar program.”
Work is due to get underway on a fleet of 12 submarines to be built in Adelaide from 2022.
Bisalloy (ASX:BIS) won the SEA1000 Future Submarines Project contract in partnership with Bluescope (ASX:BSL).
The steel will be tested to determine whether it meets safety specifications for the pressure hull of the new submarines.
“This grade of steel has never been manufactured outside of France before so this order is an important step in confirming Bisalloy’s manufacturing processes and capabilities in producing the very high specification steel required,” managing director Greg Albert said.
“Knowing our armour plate will be used to protect Australian defence personnel is an immense source of pride for everybody at Bisalloy.”
Bissaloy shares rose slightly to 98c in Friday morning trade.
Last month, the stock hit $1 for the first time since 2013, after the company won another defence contract for land transport.
SEA 1000 involves the construction of 12 submarines, with an estimated budget of $50 billion.