VEEM up for frigate role

An marine technology company based in Canning Vale has been subcontracted to work on the federal government’s Hunter frigate program.

VEEM, through a $180,000 contract from BAE Systems Australia, will develop a propellor blade and brake prototype for future frigates, which the government considers are among the most advanced anti-submarine warships in the world.

VEEM will complete the work alongside Norway’s Kongsberg Maritime.

The contract was signed after an initial feasibility study, completed last year.

Managing director Mark Miocevich said VEEM has supplied more than $200 million worth of defence products since 1987.

That includes supplying components for submarines, surface ships and warships to the Royal Australian Navy.

The Hunter Class Frigate Program forms part of the government’s $270 billion investment in Australia’s defence capability.

Shares in VEEM were up 3.4 per cent at 3:27pm AEST to trade at $1.22.