Hanwha Defense USA to acquire Philly Shipyard stake – Hanwha Group

Hanwha Defense USA to acquire Philly Shipyard stake  Hanwha Group

Hanwha Defense USA announces plans to acquire a controlling stake in Hanwha Philly Shipyard, supporting its transition to dual-use shipbuilding. Announcement reinforces Hanwha’s goal to transition shipyard to dual-use Hanwha Defense USA (HDUSA) announced it is acquiring a controlling stake in Hanwha Philly Shipyard, bringing the shipyard under HDUSA’s leadership and governance structure and strengthening its presence in the U.S. shipbuilding and defense market. The announcement follows HDUSA establishing a presence at the shipyard earlier this year to transition it into a dual-use yard building for the U.S. Navy and commercial customers. Since Hanwha acquired the shipyard in December 2024, Hanwha Systems has held a 60% stake, with Hanwha Ocean holding the remaining 40%.

In September, Hanwha Systems announced plans to sell its stake to Hanwha Defense USA Shipbuilding LLC, an HDUSA-led joint venture with Hanwha FutureProof. HDUSA President of U.S. Shipbuilding RADM Tom Anderson (Ret. U.S. Navy) will oversee all shipbuilding operations in the U.S. “As Hanwha Defense USA continues to grow its multi-domain presence across the U.S., bringing the Philly Shipyard under HDUSA will further align our government and commercial shipbuilding efforts,” said HDUSA President and CEO Michael Coulter. “We look forward to continuing to invest in our Philly Shipyard facilities and workforce in preparation for exciting work ahead.” “Over the past two years, Hanwha has made significant