Fairbanks Morse Defense signs agreement with South Korean HHI to further shipbuilding capabilities

NATIONAL HARBOR, MD -- Fairbanks Morse Defense has signed a memorandum of understanding with South Korean shipbuilder HD Hyundai Heavy Industries today at Sea-Air-Space, an agreement which will seek to further shipbuilding capabilities.

The agreement, signed by Fairbanks Morse Defense CEO George Whittier and HHI Chief Executive of Naval and Special Ships Won-ho Joo, will allow for “collaboration on future international Navy initiatives,” according to the news release.

“The U.S. is signaling to the world that it’s ready to reestablish itself as a shipbuilding nation, and global companies are eager to be part of that effort by working with the American industrial base,” Whittier said in a statement. “This MOU allows both our companies to explore avenues that drive mutual growth while still supporting our national manufacturing and maritime defense priorities.”

The partnership with HHI is not the only one announced this week, as American shipbuilder HII signed a MOU with the South Korean company on Monday to accelerate ship production.

“Today’s agreement reflects our commitment to explore all opportunities to expand U.S. shipbuilding capacity in support of national security,” HII Executive Vice President and President of Ingalls Shipbuilding Brian Blanchette told reporters. “By working with our shipbuilding allies and sharing best practices, we believe this MOU offers real potential to help accelerate delivery of quality ships.”

These two partnerships are the latest example of South Korean companies entering the U.S. industrial base, with defense conglomerate Hanwha purchasing the Philadelphia-based Philly Shipyard last year.