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Hanwha Says U.S. Committee Approves More Ownership Of Shipbuilder Austal

Rich Abott By
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Hanwha Says U.S. Committee Approves More Ownership Of Shipbuilder Austal
The USS Mobile (LCS-26) rolled out of its assembly bay and was launched in early 2020 at shipyard Austal USA in Mobile, Ala.. (Photo: Austal USA)

South Korean conglomerate Hanwha Group on Monday announced a U.S. regulatory body approved the potential for it to significantly increase its equity position in Australia's Austal, which builds naval vessels in the U.S., although the Australian company questions the full veracity  of its claims. Hanwha said the Treasury Department’s Committee on Foreign Investment in the United States (CFIUS) granted Hanwha clearance to increase its shareholding in Austal up to 100 percent, while the conglomerate said it currently plans to increase…

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