The West Australian shipbuilder said the purchase was in order to boost its skilled workforce -- and it plans to expand employment at the new site.
Austal bought the sheds and facilities from John Fuglsang Developments, with Mr Fuglsang to retain much of the remainder of the land at Margate.
Mr Fuglsang said it was a good move for employment and Tasmania.
He said the majority of workers would be re-employed by Austal.
"It is a good outcome, for the workforce and for the state," Mr Fuglsang said.
"This will bring a big shipbuilder to the state, one with an enormous order book and a large marketing team."
He said he expected 90 per cent of staff would stay with Austal, with a small number to remain with Mr Fuglsang and perhaps a handful of redundancies.
Austal, which employs 1300 staff at Henderson in Western Australia, said it was in talks with the roughly 90 staff at Margate this week.
Austal has enjoyed major defence contracts and its products include fast catamaran ferries and cruise yachts that are a cross between a cruise ship and a luxury motor yacht.
The seven-year-old North West Bay Ships' vessels have included catamaran ferries and a landmark luxury trimaran super-yacht.
Austal executive chairman John Rothwell said the motivation was to increase skilled staff, who were in short supply in the boom state of WA.
"We've had trouble growing our workforce and this was a good opportunity to buy a small yard that had immediate good people," Mr Rothwell said.
He said the quick sale process allowed staff to change employers without losing pay.
Mr Rothwell said sales and technical design staff would not be duplicated, but that overall employment was likely to grow.
"Certainly as time goes on we'll be trying to grow staff back up to high levels," he said.
Depending on orders, at times the site has had 300 employees.
He said human resources staff were on site talking with the workers.
Mr Fuglsang said he would continue to develop the remainder of the site.
The shipyard facilities of North West Bay Ships at Margate have been bought by West Australian shipbuilder Austal.
Austal bought the sheds and facilities from John Fuglsang Developments, with Mr Fuglsang to retain much of the remainder of the land at Margate.
Mr Fuglsang said it was a good move for employment and Tasmania.
He said the majority of workers would be re-employed by Austal.
"It is a good outcome, for the workforce and for the state," Mr Fuglsang said.
"This will bring a big shipbuilder to the state, one with an enormous order book and a large marketing team."
He said he expected 90 per cent of staff would stay with Austal, with a small number to remain with Mr Fuglsang and perhaps a handful of redundancies.
Austal, which employs 1300 staff at Henderson in Western Australia, said it was in talks with the roughly 90 staff at Margate this week.
Austal has enjoyed major defence contracts and its products include fast catamaran ferries and cruise yachts that are a cross between a cruise ship and a luxury motor yacht.
The seven-year-old North West Bay Ships' vessels have included catamaran ferries and a landmark luxury trimaran super-yacht.
Austal executive chairman John Rothwell said the motivation was to increase skilled staff, who were in short supply in the boom state of WA.
"We've had trouble growing our workforce and this was a good opportunity to buy a small yard that had immediate good people," Mr Rothwell said.
He said the quick sale process allowed staff to change employers without losing pay.
Mr Rothwell said sales and technical design staff would not be duplicated, but that overall employment was likely to grow.
"Certainly as time goes on we'll be trying to grow staff back up to high levels," he said.
Depending on orders, at times the site has had 300 employees.
He said human resources staff were on site talking with the workers.
Mr Fuglsang said he would continue to develop the remainder of the site.
The shipyard facilities of North West Bay Ships at Margate have been bought by West Australian shipbuilder Austal.