:

Business/Financial

South Korea’s Hanwha To Acquire Philly Shipyard

Thursday, June 20th, 2024

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…

Space

Space Force Eyes Nearly $1.5 Billion for Space Data Network Backbone in Future Reconciliation Bill

The U.S. Space Force (USSF) plans to request nearly $1.5 billion for the Space Data Network (SDN) Backbone in a future fiscal 2027 reconciliation bill. Last week, Space Force’s Space […]

Congress

Warren And Sheehy Renew Call for “Right to Repair” In NDAA

Sen. Elizabeth Warren (D-Mass.) and Sen. Timothy Sheehy (R-Mont.), two members of the Senate Armed Services Committee (SASC), are renewing their call for “Right to Repair” language in the National […]

HASC Looks To Restrict USV Deliveries Without Navy CONOPS And Strategy

The House Armed Services Committee’s (HASC) fiscal year 2027 defense policy draft bill aims to restrict the Navy’s use of unmanned surface vessels (USV) until it decides on key factors […]

Congress

Gaps In Army’s Tactical Counter-Drone Capabilities Remain Concern Of HASC

A draft defense policy bill released this week says the Army is fielding counter-drone capabilities for defense of fixed sites and maneuver forces but suggests that troops at the lowest […]