Hanwha Defense USA to acquire Philly Shipyard stake
Hanwha Defense USA (HDUSA) has announced its acquisition of a controlling interest in Hanwha Philly Shipyard, effectively bringing the shipyard under its governance. This strategic move enhances HDUSA’s position in the U.S. shipbuilding and defense market. The transition follows HDUSA’s earlier establishment at the shipyard, which is set to become a dual-use facility catering to both the U.S. Navy and commercial clients.
Hanwha initially acquired the shipyard in December 2024, with Hanwha Systems retaining a 60% stake and Hanwha Ocean holding the remaining 40%. In September, Hanwha Systems revealed plans to divest its share to Hanwha Defense USA Shipbuilding LLC, a joint venture led by HDUSA and Hanwha FutureProof.
RADM Tom Anderson (Ret. U.S. Navy), President of U.S. Shipbuilding at HDUSA, will oversee the shipbuilding operations throughout the United States.
HDUSA President and CEO Michael Coulter commented, “As Hanwha Defense USA continues to expand its multi-domain presence across the U.S., integrating the Philly Shipyard into HDUSA will enhance our government and commercial shipbuilding initiatives. We are eager to invest in the facilities and workforce of our Philly Shipyard to prepare for exciting future projects.”
“In the last two years, Hanwha has made substantial investments in the Philly Shipyard to rejuvenate the U.S. shipbuilding sector,” remarked Anderson. “We are now positioning the shipyard for a dual-use transition, aligning operations, workforce, and client relations to prepare for contracts with the U.S. Navy, federal agencies, and commercial customers.”
About Hanwha Defense USA
Hanwha Defense USA, a subsidiary of Hanwha Aerospace, offers proven platforms underpinned by a mature process that has been successfully applied across various global markets and supply chains. The company focuses on developing local workforces capable of sustaining products throughout their life cycles, meeting the needs of both warfighters and industrial partners. HDUSA aims to expand its U.S. presence through organic growth, strategic partnerships, and selective acquisitions.
For additional details, please visit: www.hanwhadefenseusa.com
About Hanwha Philly Shipyard
Hanwha Philly Shipyard (HPSI) stands out as a prominent U.S. shipbuilder, featuring a modern shipbuilding facility known for delivering quality ocean-going merchant vessels. The shipyard has produced approximately 50% of all large ocean-going U.S. Jones Act commercial ships since 2000. As part of the Hanwha Group, a multinational corporation, HPSI is supported by a strong network of affiliates across various sectors including energy, shipbuilding, defense, aerospace, finance, and technology.
For further information, please visit: www.hanwhaphillyshipyard.com
