Sign In
Search
Navy/USMC

South Korea’s Hanwha Buys Nearly 10 Percent Shareholding In Australia’s Austal, Seeks 20 Percent

Rich Abott By
SHARE:
South Korea’s Hanwha Buys Nearly 10 Percent Shareholding In Australia’s Austal, Seeks 20 Percent
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)

A major South Korean conglomerate this week purchased a significant stake in Australian shipbuilder Austal, with hopes of expansion. On March 18 Hanwha Group said it acquired a 9.9 percent stake in Austal as a “strategic investment” to become a long-term strategic partner in developing Australian defense capabilities. The company on Tuesday also said it officially applied for approval by the Australian Foreign Investment Review Board (FIRB) to add another 9.9 percent stake via a total return swap, which if…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Navy/USMC

Hanwha And HavocAI To Develop 200-Foot Autonomous Ship Aimed At Navy MASC

Navy/USMC

GD and HII To Work On Trump’s New BBG(X) Battleship Design For Six Years, Analysts See $10-15 Billion Cost

Navy/USMC

Zumwalt Installs Of Hypersonic Weapon Tubes On Pace, Testing For IOC Unclear

Business/Financial

Karman To Acquire Composites And Material Sciences Companies To Boost Navy Work

Trending

Record F-35 Deliveries, PAC-3 Production Framework Show Lockheed Martin Stepping Up, Hegseth Says
DHS Creates Program Executive Office for Drone and Counter-Drone Systems
SpaceX Wins String Of Launches For NSSL Phase 3, Lane 1
Department Of The Air Force Gets In Line With Hegseth Acquisition Reform Plan
Trump Directive Halts Dividends, Stock Repurchases By “Major Defense Contractors”

Contract Updates

Chandler Construction Services Inc. (Ninety Six, South Carolina) – $16,471,000

Chandler Construction Services Inc., Ninety Six, South Carolina, was awarded a $16,471,000 firm-fixed-price contract for the furnishing, installing, and placing into successful operation of water main pipe. The amount of this action is $16,471,000. Bids were solicited via the internet…

M1 Support Services LP (Denton, Texas) – $68,822,271

M1 Support Services LP, Denton, Texas, was awarded a $68,822,271 modification (P00206) to contract W9124G-17-C-0104 for Army and Air Force aviation maintenance. The modification brings the total cumulative face value of the contract to $5,522,349,151. Work will be performed at…

Lake Union Drydock Co. (LUDC) (Seattle, Washington) – $12,683,144

Lake Union Drydock Co.* (LUDC), Seattle, Washington, is awarded a $12,683,144 firm-fixed-price contract for the maintenance, repair and preservation of YTT-10 (YTT-9 Cape Flattery-class torpedo trials craft) service life extension program. This contract includes options which, if exercised, would bring…

Innovative Professional Solutions Inc. (Panama City Beach, Florida) – $13,631,598

Innovative Professional Solutions Inc.,* Panama City Beach, Florida, is awarded a $13,631,598 firm-fixed price/cost-only contract for fabrication and installation of minesweeping winches.  This contract includes supplies for the government of the Republic of Korea (100%) under the Foreign Military Sales…

The Force Multipliers

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Force Multipliers

Force Multipliers – Fred Taylor

Force Multipliers

Force Multipliers – Adam Maruyama

Job Feed

Post a Job // Post a Resume