Naval shipbuilder Forgacs has announced the acquisition of fellow Australian company Broens.
The acquisition will see Broens, a subcontractor on the Lockheed Martin F-35 international program, become a wholly owned subsidiary of Forgacs, which is currently building modules for Australia's Air Warfare Destroyer (AWD) project.
Speaking about the acquisition, Forgacs chief executive Lindsay Stratton said the acquisition is the first step in a diversification strategy that will create a unique and marketable mix of capabilities.
Stratton contends that in addition to creating diversification and greater opportunities the acquisition will facilitate the extension of Forgacs’ defence offering to include land and air.
‘We are widely recognised for our maritime offering through naval shipbuilding and our through life support operations. Now we will also be involved with the land and air aspects of defence. This is an exciting and undoubtedly challenging opportunity but we are very much looking forward to making it work.”
Forgacs chief executive Lindsay Stratton says the company is taking a new direction. Picture: Newcastle Herald
