SECNAV endorses South Korean shipbuilder Hanwha's $100 million bid to buy Philly Shipyard

By Nick Wilson / June 21, 2024 at 10:25 AM
A $100 million offer from South Korean shipbuilder Hanwha Systems and Hanwha Oceans to buy the Philadelphia-based Philly Shipyard has the support of Navy Secretary Carlos Del Toro, who has previously encouraged foreign investment in the U.S. industrial base. Pending regulatory approvals, Hanwha has reached a purchase agreement with the current owner of Philly Shipyard, Norwegian investment group Anker ASA, according to a Thursday announcement from the yard . If all conditions are satisfied, the deal will close in the...

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