What Happened
South Korean Conglomerate Seeks To Expand US Shipbuilding Footprint
Hanwha Defense USA, a subsidiary of South Korea’s Hanwha Aerospace, has made a preliminary, non-binding offer to purchase Austal USA, a shipbuilding company with facilities in Mobile, Alabama. The deal is contingent on due diligence and evaluation of Austal’s operations and financials. Hanwha has previously sought to acquire Austal, but a takeover bid was rejected in 2024 due to regulatory concerns. The company has since expanded its US presence through the acquisition of the Philly Shipyard. This development was first reported by Breaking Defense.