No sell-off of split shipbuilder: Cormann

The Turnbull government has no intention of selling off any of its shipbuilding divisions in the wake of an overhaul of ASC.

The government announced last week it was splitting the enterprise, formerly known as Australian Submarine Corp, into three separate companies overseeing shipbuilding, submarine sustainment and infrastructure.

"The government has absolutely no intention to sell any of three separated business entities ... No analysis has been done of that option," Finance Minister Mathias Cormann told a Senate hearing in Canberra on Tuesday.

Senator Cormann also assured the committee the restructuring would not have any impact on job numbers.

"It is essentially, completely employment terms and conditions neutral," he told the hearing.

Under questioning from South Australian senator Nick Xenophon, Senator Cormann said all submarine and shipbuilding programs were a matter for the Defence portfolio.

"The government has not yet finalised its decisions on future shipbuilding and submarine contracting and construction models," he said