Merseyside military boat builder Marine Specialised Technology secures first orders for its new Fast Interception Craft as the company sees business surge as global insecurity grows. Tony McDonough reports
Specialist boat builder Marine Specialised Technology (MST) has secured its first orders for a new Fast Interception Craft (FIC).
Wirral-based MST, which generates annual revenues of almost £20m and saw its most recent profits more than double, designs, manufactures and supplies high speed boats to navies in more than 20 countries.
In its most recent accounts the company said it is expecting a surge in orders over the coming years as global insecurity prompts investment into military hardware.
It has developed its new FIC-1700 craft in partnership with BMT. This vessel is specifically designed for all-weather rapid deployment operations, including maritime law enforcement and border control.
The 17.35m craft delivers operational effectiveness, low radar and sound signatures combined with an increased work platform, extended range and overnight accommodation.
MST, which relocated from Liverpool to a shipyard in Bromborough in 2022, says it has secured orders with what it describes as a “European military user”. It has delivered the first of two boats which are undergoing end-user familiarisation training.
They are powered by four Mercury Verado V12 engines, each individually rated to 600 horsepower, enable the FIC-1700 to achieve speeds exceeding 50 knots.
Other enhancements include shock mitigation seating and a modular ergonomic console design, allowing frequent equipment upgrades, improving the military user experience throughout the craft lifetime.
Philip Hilbert, sales director for MST, said: We are very proud to deliver the Fast Interceptor Craft range to the market which will allow global Armed Forces to remain at the cutting edge of capability and border security.
“This contract reflects the persistent dedication our team puts in and highlights the growth Marine Specialised Technology is actively undergoing, whilst reinforcing our position as a world-leader in the design and manufacture of military craft.”
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In June this year MST, which employs more than 130 people, published its annual accounts for the 12 months to September 30, 2023 on Companies House. They revealed a 31% rise in revenues to £19.4m and pre-tax profits more than doubling to £781,613.
Among the contract wins during the year was a deal to provide 12 small vessels for the German navy. Designed for use by special forces the boats will be carried on the navy’s F126 frigates.
MST, which was founded in 2002, said its strong order book had been boosted by the unrest around the world with multiple countries looking to beef up their military capability. MST expects “substantial” rises in revenues in the next two to three years.