Australian shipbuilder Austal said on Tuesday that Hanwha Group had offered to buy its U.S. operations for up to $1.20 billion as the South Korean conglomerate seeks to expand in the American defence market.
US Operations
Austal’s U.S. business generated 90% of the group’s A$108.5 million pre-tax profit in the 2025 financial year. The offer does not include Austal’s core operations in Australia, the Philippines and Vietnam or its Sydney-listed shares.
Hanwha Defence USA offered to buy Austal’s U.S. entities and operations for $1.05 billion to $1.20 billion, a move that would deepen its push into the U.S. defence market after acquiring the Philly Shipyard in Philadelphia in 2024.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
