Sign In
Search
Business/Financial

South Korea’s Hanwha To Acquire Philly Shipyard

Rich Abott By
SHARE:
South Korea’s Hanwha To Acquire Philly Shipyard
Production of a National Security Multi-Mission Vessel at Philly Shipyard in February 2024. (Photo: Philly Shipyard)

South Korea’s Hanwha conglomerate agreed to purchase the Norwegian-owned Philly Shipyard, the latter said on Thursday. The transaction will involve Hanwha Group business segments Hanwha Systems and shipbuilder Hanwha Ocean entering into a share purchase agreement with Philly Shipyard. The company said the sale will be against a cash consideration of $100 million. Philly Shipyards is currently owned by Norway’s Aker Group industrial investment company.  “After two decades of stewardship, it is with great honor that we transition the ownership…

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

Budget

Defense Bill Tries To Block Foreign Shipbuilding, Adds $1 Billion For Second DDG

Navy/USMC

Navy Chooses Seven Companies For First MUSV At-Sea Demos

Navy/USMC

Mine Countermeasure Systems Need To Be Self-Contained, Have Onboard Data Analysis: Officials Say

International

Australia Will Only Buy Used Virginia SSNs For AUKUS; UUV Tech To Be Pillar II Signature Project

Trending

USAF Looks To Start Building Family Of Affordable Mass Missiles In September
HASC’s Final FY ‘27 NDAA Expands Systems Eligible For Multi-Years, Includes LTAMDS, IBCS, ARRW
Air Force Eyes Mass Production of FAMM-P While Also Pursuing FAMM-L
State Department Okays $2 Billion Sale Of Anduril C-UAS Systems; JASSM-ER For Denmark
SpaceX Gets Nearly $4.2 Billion Nod From Space Force For Initial SB-AMTI

Congress Updates

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]

Congress

HASC Wants Info On Army’s Plans To Pursue Autonomous Aerial Delivery, Surface Vessels For Logistics

The House Armed Services Committee (HASC) added several measures to its version of the next defense policy bill seeking more details from the Army on efforts to develop future logistics […]

The Force Multipliers

Force Multipliers

Michael DiOrio – Dataminr

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Job Feed

Post a Job // Post a Resume