Latest Marine Manufacturing News

VEEM Limited’s FY25 results reveal a challenging year with revenue down 15%, yet a strong second half turnaround driven by cost cuts and efficiency gains. The company also secured a significant $65 million contract extension and new supplier status for a major US submarine program.

VEEM Limited has renewed a six-year, $65 million contract to supply critical components for Australia's Collins Class submarines, reinforcing its long-standing defence partnership and projecting stronger financial performance in FY26.