The deal is part of a series of aggressive moves Hanwha has taken to solidify its presence in the American defense industrial base this year.

Breaking Defense

Hanwha closes $100M deal to take over Philly Shipyard

South Korea’s Hanwha Group completed the acquisition of Philly Shipyard on December 19 in a deal valued at approximately $100 million. The company em...

The Maritime Executive

Hanwha Completes $100 Million Acquisition of Philly Shipyard

Oslo-listed, US-based builder wants to pay most of $100m sale price to shareholders

TradeWinds | Latest shipping and maritime news

Hanwha takes over Philly Shipyard as Kristian Rokke-backed company plots future

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Seoul, Dec 20 (SocialNews.XYZ) South Korea's Hanwha Group said on Friday it has completed a $100 million acquisition of Philly Shipyard, a leading US shipbuilder for commercial and government projects. The acquisition was finalized six months after signing a contract with Norway's Aker ASA, the parent company, in June. Hanwha Ocean Co. and Hanwha Systems Co. jointly undertook the acquisition. Philly Shipyard was established in 1997 on the site o…

Social News XYZ

Hanwha completes $100 mn acquisition of US firm Philly Shipyard

Hanwha plans to enhance the yard’s capabilities, expand production, and introduce advanced shipbuilding technologies to the operation.

Marine Insight

Hanwha Acquires Philly Shipyard For $100 Million, Establishing “Hanwha Philly Shipyard”

Hanwha press release  In September 2024, Hanwha received Committee on Foreign Investment in the United States (CFIUS) approval. With all the appropriate approvals secured and the financial transaction completed, the newly named, “Hanwha Philly Shipyard” officially begins Hanwha’s shipbuilding operations in the U.S.  As a part of this acquisition, David Kim will step in to the role of Chief Executive Officer to guide the shipyard through this tra…

Naval News

Hanwha Closes $100 Million Philly Shipyard Acquisition

South Korean conglomerate Hanwha Group has completed its $100 million acquisition of Philly Shipyard through its subsidiaries Hanwha Systems and Hanwha Ocean, marking a historic moment as the first Korean...

gCaptain

Hanwha Completes $100M Acquisition of Philly Shipyard, Marking First Korean Shipbuilder in U.S.

Hanwha Systems and Hanwha Ocean has completed its $100 million acquisition of Philly Shipyard, clearing the way for the South Korean defense company to begin U.S.-based shipbuilding operations. According to a company announcement, Hanwha received Committee on Foreign Investment in the United States (CFIUS) approval in September, clearing the last hurdle in the acquisition process. The Philadelphia-based yard will be renamed Hanwha Philly Shipyar…

Hanwha closes $100M deal to take over Philly Shipyard

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