[News Space=Reporter seungwon lee] Hanwha Group has completed the acquisition of the Philly Shipyard in the United States. Hanwha Group is the first domestic company to acquire a U.S. shipyard.

Hanwha Group announced on the 20th that it has completed all procedures for acquiring a 100% stake in Philadelphia Shipyard in the United States. This is only six months after signing the main contract with Norway’s Aker on June 20th. The acquisition amount is 100 million dollars. Hanwha Systems invested 60 million dollars and Hanwha Ocean invested 40 million dollars, securing 60% and 40% stakes respectively.

Hanwha Group's strategy is to make the Philly Shipyard a strategic base for the North American shipbuilding and defense markets. 

As U.S. President-elect Donald Trump also mentioned in a phone call with President Yoon Seok-yeol on November 7 that “there is a need to closely cooperate with Korea not only in ship exports but also in maintenance, repair, and overhaul,” Hanwha Group expects that the acquisition of a local shipyard will serve as a springboard to accelerate its entry into the U.S. defense market.

Hanwha Ocean plans to strengthen its position in the North American shipbuilding market based on the production capacity and market experience of the Philly Shipyard. It plans to maximize efficiency through smart production such as eco-friendly ship technology and production automation owned by Hanwha Ocean, and increase its market share in the high value-added ship sector.

Hanwha Systems also plans to support the development of next-generation ships with autonomous navigation technology and introduce some cutting-edge technologies, such as integrated control devices and ship automatic control systems, to enhance the technological competitiveness of shipyards.

The Philly Shipyard is a US subsidiary of Aker, a Norwegian oil, gas, and renewable energy company, and was established in 1997 on the site of the US Navy Philadelphia National Shipyard. It specializes in building coastal transport merchant ships, and has a track record of supplying approximately 50% of large merchant ships subject to the US Jones Act, such as product carriers (PC ships) and container ships.

In particular, the company has recorded outstanding performance in repair and modification projects for not only merchant ships but also offshore wind power installation ships, government ships, and naval transport ships, including participation in the U.S. Department of Transportation Maritime Administration (MARAD) multi-purpose training ship (NSMV) construction project.

The Philly shipyard is expected to be used as an important base for the US Navy’s shipbuilding and maintenance, repair, and overhaul (MRO) business. Hanwha Ocean has already preemptively entered the market by winning two consecutive US Navy MRO projects this year, making it the only domestic shipyard to do so.

A Hanwha Group official said, “The acquisition of Philly Shipyard will be a significant turning point for Hanwha Group to strengthen its position in the global marine defense industry,” adding, “Based on the best technology and sustainable marine solutions, we will create new growth engines in the North American market and expand our influence in the global market.”