James Fisher and Sons Plc (LON:FSJ) told investors that a client, JFD Australia, has agreed a four-year contract extension worth £35mln.
It sees James Fisher supply its submarine escape and rescue system to the Royal Australian Navy (RAN) until at least December 2023, with the option for a further 11-month extension.
The company noted that the extension will create a number of full-time defence industry jobs.
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"We are delighted to secure this four-year contract extension from our valued customer, the Royal Australian Navy,” said Eoghan O'Lionaird, James Fisher chief executive.
“Keeping submariners and other defence force personnel safe remains our foremost priority.
“JFD Australia looks forward to continuing to be a reliable partner for the RAN through the ongoing delivery of its industry-leading submarine escape and rescue service."