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Hanwha Completes $100M Acquisition of Philly Shipyard, Marking First Korean Shipbuilder in U.S.
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...
“We plan to grow and build on a long tradition of success, by expanding production using advanced technologies, and supporting the national revitalization of U.S. shipyards,” Kim stated. “With Philadelphia’s rich history in shipbuilding, Hanwha is eager to usher in a new era of success,” Kim added, highlighting plans to expand into naval vessel production and increase local employment opportunities. The deal concludes Aker Capital AS’s two-decade ownership of the shipyard, with Hanwha committing to create new jobs, expand capabilities, and advance workforce development initiatives in the Philadelphia community.
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