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Hanwha Defense USA to acquire controlling stake in Hanwha Philly Shipyard
Hanwha Defense USA announced on Tuesday that it would acquire a controlling stake in Hanwha Philly Shipyard as part of a broader internal restructuring aimed at strengthening the South Korean conglomerate's operations in the U.S. naval shipbuilding business. Under the restructuring plan announced in September, Hanwha Systems Co. will sell its 60% stake in the shipyard to Hanwha Defense USA Shipbuilding LLC, a joint venture between Hanwha Defense USA and Hanwha FutureProof. Hanwha Ocean Co. will retain its 40% stake.
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