CIMIC Group company UGL (ugllimited.com), as part of the Naval Ship Management joint venture, has established a Program Agreement for the continued sustainment of the Royal Australian Navy’s ANZAC Class Frigates.
The five-year Program Agreement has been developed over an 18-month transition period, and will generate revenue to UGL of approximately $250 million, as previously announced1 . CIMIC Group Chief Executive Officer Michael Wright said: “Supporting the Australian Defence Force by providing efficient and cost-effective asset management to the Commonwealth for these critical Defence assets is a priority for CIMIC Group.” UGL Managing Director Jason Spears said: “UGL has a long association with the Royal Australian Navy. As an active partner within the Naval Ship Management joint venture we are pleased to continue supporting the performance and availability of the ANZAC fleet.” Under the Program Agreement, Naval Ship Management (a 50:50 joint venture between UGL and Babcock) and its alliance partners will provide sustainment support to the Royal Australian Navy ANZAC Class Frigates (navy.gov.au), with a focus on fleet availability, efficiency and cost optimisation. The agreement was formed as part of Naval Ship Management’s existing Warship Asset Management Agreement with the Commonwealth of Australia. Follow on Program Agreements will be awarded under the Warship Asset Management Agreement, subject to the achievement of certain key performance indicators, over the life of the ANZAC Class Frigates.
About CIMIC Group Limited
CIMIC Group Limited (cimic.com.au) is a world-leading infrastructure, mining, services and public private partnerships group. We have businesses in construction (CPB Contractors and Leighton Asia), mining and mineral processing (Thiess and Sedgman), operation and maintenance services (UGL), public private partnerships (Pacific Partnerships) and engineering (EIC Activities). Our mission is to generate sustainable shareholder returns by delivering innovative and competitive solutions for clients and safe, fulfilling careers for our people. With a history since 1899, and more than 50,000 people in 20 countries, we strive to be known for our principles of Integrity, Accountability, Innovation and Delivery, underpinned by Safety. CIMIC is a member of the S&P/ASX 200 index, the Dow Jones Sustainability Australia Index and FTSE4Good.
Contact: Ms Marta Olba, Group Manager Investor Relations; T: +61(2) 9925 6134