Key highlights

  • VEEM said it is the first Australian company to receive purchase orders from HII for the Virginia Class Submarine new-build program through the AUSSQ program.
  • The initial purchase orders have a combined value of about A$0.8 million.
  • The orders followed more than 12 months of qualification and audit processes.

VEEM Limited (ASX:VEE), a Perth-based defence manufacturer of marine propulsion and gyrostabiliser systems, announced on 20 October 2026 that it has received purchase orders from HII for the Virginia Class Submarine new-build program through the Australian Submarine Supplier Qualification (AUSSQ) program.

The purchase orders

VEEM said it is the first Australian company to receive purchase orders from HII under the Virginia Class program through AUSSQ. The initial orders have a combined value of approximately A$0.8 million, which the company described as an important commercial milestone in its expansion into the US defence supply chain.

The amount is small relative to the scale of the program, and the announcement does not state delivery dates, the products ordered or the total value of future work.

Qualification and further tenders

The orders follow more than 12 months of qualification and audit processes undertaken by VEEM to meet the requirements of the US submarine supply chain. The company said it has been a supplier to the Collins Class submarine program for 38 years and spent the last two years working to meet the AUSSQ program’s requirements.

VEEM also said it has submitted tenders for additional opportunities, which it expects to yield significant further orders as the AUKUS program gathers momentum. Those tenders are not yet awarded, and the announcement does not quantify their value or timing.

About VEEM

VEEM designs and manufactures marine propulsion and large gyrostabiliser systems for the defence, yacht, fast ferry and commercial workboat markets. Its gyrostabilisers reduce the rolling motion of vessels in waves, and it also produces propellers, fin systems, valves and specialised components for defence.

The company is headquartered in Perth and operates from a 15,700 square metre manufacturing facility that includes what it describes as Australia’s largest non-ferrous foundry. It employs about 195 people in Australia, listed on the ASX in 2016 and marked 50 years in business in 2018.