Latest news with #Tattarang
West Australian
27-06-2025
- Business
- West Australian
Debt markets help buoy Austal's huge $1.2 billion US expansion
WA shipbuilder Austal has locked in the missing piece of a $1.2 billion funding package needed to finish two new major manufacturing facilities in the the US state of Alabama. The Henderson-headquartered business will have access to $488 million worth of debt from a group of Australian and international banks, as well as Export Finance Australia, as part of a new refinancing deal announced on Friday. The debt sits alongside the $220 million Austal raised in March from investors, including Andrew and Nicola Forrest's investment vehicle Tattarang, after the company capitalised on a bounding run in its stock price. Austal shares are worth about $3.69 more than this time last year as the company stares down a $14.5 billion pipeline worth of work in the US and WA. Its advancements in the US have piqued renewed interest from South Korean defence company Hanwha, which is angling for Federal Treasurer Jim Chalmers to let them crank up their stake in the business up to 19.9 per cent. To deliver contracts for the US Navy and US Coast Guard, Austal is building two major expansion projects in Mobile Alabama. The FA2 facility will allow Austal to assemble large steel vessels, while the MMF3 operation means it can deliver submarine modules. Once completed, the new facilities at Mobile will add 2000 jobs to Austal's 3000-strong US workforce. Chief executive Paddy Gregg said there had been strong support for the refinancing, and that Austal was positioned for 'tremendous growth opportunities'. 'Austal possesses an exceptional pipeline of long-term defence work in the US, which will be complemented by the Strategic Ship Building Agreement in Australia,' he said. 'The company now has a stronger balance sheet with enhanced liquidity at a lower cost, longer tenor, and with superior flexibility to support this growth.' The new debt helping fund the builds replaces Austal's existing facility that was due to expire in 2026. The shipbuilder told the market the new arrangement came with better pricing and fewer covenants. A further $634m is available via other instruments Austal said it had negotiated. Last year Austal won a $US450m ($687.8m) contract towards the facility from General Dynamics Electric Boat.
Sydney Morning Herald
01-05-2025
- Business
- Sydney Morning Herald
Why can't we be friends? Twiggy sees opportunities for Force and Perth Bears
Rugby Australia boss Phil Waugh said the 15-man game is focussing on an upgrade of its pathway systems, and selling the unique international aspects of rugby, as the threat of the NRL expanding by two more teams looms on the horizon. Waugh's comments came as the Andrew Forrest-owned Tattarang company, which owns the Western Force, said it was keen to embrace the new Perth Bears league club and look for ways to partner with the NRL side, potentially investing in shared facilities and a new ground. The NRL is currently finalising expansion to 19 teams by 2028, with a team in Papua New Guinea locked in for 2028 and a deal imminent for the Bears to be revived in 2027 in Western Australia. A new broadcast deal in 2028 is expected to increase the NRL salary cap to around $15m a year per club, and the two new franchises will not only need over 60 players for the main squads, but at least that number again below, in feeder and junior teams. That recruitment drive looms as a threat to rugby on a number of fronts. Established Wallabies and Super Rugby players will become potential targets, but the bigger threat is cashed-up NRL clubs further pillaging the pool of talented teenagers who play both code s. In Perth, the creation of the Bears could even be an existential threat for the Force, who've had the city to themselves as a rugby code since 2006. The Force, who are averaging around 7000 fans to home games this year, have a supporter base comprising a mix of locals and New Zealand, English and South African expats. The Force are viewing it in a different way, however. They believe the Bears' arrival can provide an opportunity to work together, so both codes can thrive in the state. 'As the owner of the Western Force, Tattarang is open to discussing partnership opportunities with both the Western Australian Government and the NRL,' Tattarang chief executive John Hartman said.
The Age
01-05-2025
- Business
- The Age
Why can't we be friends? Twiggy sees opportunities for Force and Perth Bears
Rugby Australia boss Phil Waugh said the 15-man game is focussing on an upgrade of its pathway systems, and selling the unique international aspects of rugby, as the threat of the NRL expanding by two more teams looms on the horizon. Waugh's comments came as the Andrew Forrest-owned Tattarang company, which owns the Western Force, said it was keen to embrace the new Perth Bears league club and look for ways to partner with the NRL side, potentially investing in shared facilities and a new ground. The NRL is currently finalising expansion to 19 teams by 2028, with a team in Papua New Guinea locked in for 2028 and a deal imminent for the Bears to be revived in 2027 in Western Australia. A new broadcast deal in 2028 is expected to increase the NRL salary cap to around $15m a year per club, and the two new franchises will not only need over 60 players for the main squads, but at least that number again below, in feeder and junior teams. That recruitment drive looms as a threat to rugby on a number of fronts. Established Wallabies and Super Rugby players will become potential targets, but the bigger threat is cashed-up NRL clubs further pillaging the pool of talented teenagers who play both code s. In Perth, the creation of the Bears could even be an existential threat for the Force, who've had the city to themselves as a rugby code since 2006. The Force, who are averaging around 7000 fans to home games this year, have a supporter base comprising a mix of locals and New Zealand, English and South African expats. The Force are viewing it in a different way, however. They believe the Bears' arrival can provide an opportunity to work together, so both codes can thrive in the state. 'As the owner of the Western Force, Tattarang is open to discussing partnership opportunities with both the Western Australian Government and the NRL,' Tattarang chief executive John Hartman said.
Perth Now
21-04-2025
- Business
- Perth Now
Why Cottesloe won't be the same this winter
Cottesloe remains one of Perth's most popular beaches, with thousands flocking to the iconic white-sand beach and grassy banks each year, but those who enjoy a beach-side coffee and sweet treat will find something missing as beloved cafe Ol' Buoy is closed for the winter. The takeaway food and drinks kiosk has become part of the Cottesloe landscape as it's situated within the Indiana Teahouse building which looks over the sea and consistently has long queues of beachgoers waiting for coffees, ice cream and burgers. Ol' Buoy posted on Instagram to share the news that they were now closed for the winter. Your local paper, whenever you want it. 'That's a wrap on another season of Ol'Buoy!! Can you believe it? Big love to everyone who dropped by, grabbed a bite, braved the queues, or just came for the good times. We're already plotting our comeback… fingers crossed we'll be back doing it all again soon. Ciao for now ✌🏻,' the business wrote. If you'd like to view this content, please adjust your . To find out more about how we use cookies, please see our Cookie Guide. Fans of the cafe commented on the post to share their disappointment of its temporary closure. 'So sad to see an empty spot there, will be waiting patiently until next szn! 🥲 thank you for all the good coffees & great times 🙌,' one person commented. 'Please be back 🙏🏼,' another wrote. The name 'Ol' Buoy' is a reference to the iconic pylon in the ocean off Cottesloe Beach. Credit: Ol Buoy/= / Instagram Some-day Coffee co-owner Courtney James Smith said the idea was developed organically after he developed a friendship with Daisies owner Sam Kaye on his regular visits to the iconic beach. 'It certainly wasn't planned; the four of us were sitting around chatting about opportunity and we'd like to see something happen and we reached out to Minderoo and Tattarang organically and it's kind of snowballed from there,' Smith said in 2021. Ol' Buoy was developed as part of Andrew and Nicola Forrest's organisation Tattarang and the Town of Cottesloe's plans to redevelop Indiana Teahouse in 2021. The popular takeaway cafe is estimated be closed for the next seven months, with beachgoers having to find an alternative until Ol' Buoy opens its doors again in November.
