NewswireTODAY - /newswire/ - Sydney, Australia, 2018/12/03 - CIMIC Group company UGL has secured an asset management program agreement for up to 15 years to support the Royal Australian Navy’s Landing Helicopter Dock and Landing Craft vessels - UGLlimited.com / CIMIC.com.au. ASX: CIM

CIMIC Group company UGL (ugllimited.com), as part of the Naval Ship Management joint venture, has secured an asset management program agreement for up to 15 years to support the Royal Australian Navy’s Landing Helicopter Dock and Landing Craft vessels.

Naval Ship Management has been appointed as Asset Steward of the 14 vessels, in a program worth approximately $1.5 billion of revenue to the joint venture, of which UGL has a 50% share.

CIMIC Group Chief Executive Officer Michael Wright said: “Supporting the Australian Defence Force is a priority for CIMIC Group. By collaboratively providing asset management services to these critical Defence assets, UGL continues to provide strong asset performance, and consistent and reliable outcomes for the Commonwealth.”

UGL Managing Director Jason Spears said: “UGL has a long association with the Royal Australian Navy over 20 years. As an active partner within the Naval Ship Management joint venture, we are pleased to continue supporting the sustainment and performance of the Landing Helicopter Dock and LHD Landing Craft fleets.”

Naval Ship Management (a 50:50 joint venture between UGL and Babcock) has a long standing strategic partnership with the Royal Australian Navy and continues to provide sustainment support to the Royal Australian Navy’s ANZAC Class Frigates focussing on fleet availability, efficiency and cost optimisation.

Agency / Source: HOCHTIEF AG

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