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Navy/USMC

Incoming Philly Shipyard Owners Aim To Bring It Back To 1940s Prominence Plus Incoming M&As and Partnerships

Thursday, October 24th, 2024

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Incoming Philly Shipyard Owners Aim To Bring It Back To 1940s Prominence Plus Incoming M&As and Partnerships

Production of a National Security Multi-Mission Vessel at Philly Shipyard in February 2024. (Photo: Philly Shipyard)

The CEO of the U.S. subsidiary of a Korean conglomerate buying Philly Shipyard recently said they want to return to the level of national prominence it had in the 1940s while raising the profile of the overall U.S. business through more American acquisitions and partnerships. South Korea’s Hanwha first announced it would purchase the Norwegian-owned Philly Shipyard in June for $100 million. The sale is expected to close before the end of the year (Defense Daily, June 20). The current…

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