Cumbrian headquartered global marine services firm James Fisher and Sons has agreed a £35 million contract extension with the Royal Australian Navy.

James Fisher and Sons’ Australian-based business JFD Australia has secured a four-year contract extension to supply its world-leading submarine escape and rescue system to the navy Down Under.

The deal also includes the option to extend the contract until November 2024, the company said in a statement issued to the London Stock Exchange.

The contract will create a number of full time jobs, said James Fisher and Sons, and ensure its submarine rescue system is ready to respond to any submarine emergency the Australian navy has anywhere in the world.

James Fisher and Sons’ chief executive Eoghan O'Lionaird, said he was delighted with the contract extension.

“Keeping submariners and other defence force personnel safe remains our foremost priority,” he said.

“JFD Australia looks forward to continuing to be a reliable partner for the Royal Australian Navy through the ongoing delivery of its industry leading submarine escape and rescue service.”

The group’s JDF division provides a wide range of subsea escape and rescue products and services to the defence, law enforcement, counter terrorism and maritime sectors.

It has bases across the UK, including Barrow, Europe, the United States and Africa, as well as Australia.

James Fisher was founded in 1847 in Barrow as a ship-owning business transporting haematite from quarries in Cumbria around the world.

It has since expanded into other markets, with its specialist nuclear business, James Fisher Nuclear, based in Egremont.