Finance Minister Mathias Cormann has ordered a strategic review of troubled Adelaide based government owned shipbuilder ASC but says there are no plans to sell the firm.
Mr Cormann was commenting after Prime Minster Tony Abbott on Thursday promised to throw a lifeline to the shipbuilding industry by announcing a continuous flow of projects to try and avoid the stop start job layoffs which have plagued the sector.
ASC has shipbuilding and submarine maintenance facilities at Osborne in Adelaide and a submarine and maintenance support facility at Henderson in Western Australia and employs more than 2000 people.
Western Australian headquartered shipbuilder Austal has indicated it is interested in buying ASC as has German submarine maker TKMS and French submarine maker DCNS.
The European firms say they are prepared to take a stake in ASC if either clinches a contract worth tens of billion of dollars to build the Navy's next generation of submarines.
But Mr Cormann told the Australian Financial Review that while the government had commissioned a strategic review of ASC's future it has "no plans to sell".
Yeah. Still a lot of problems with all different kinds of stake holders.
Most of the answers are in history from many years ago. For example the ANZAC-class frigate project and even many parts of the Collins submarine build.
Australia knew how to move things along.
Today?
.
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