Hanwha Defense USA is acquiring a controlling stake in Hanwha Philly Shipyard, bringing the shipyard under its leadership and expanding its presence in the US shipbuilding and defense sectors.
The announcement follows HDUSA establishing a presence at the shipyard earlier this year to transition it into a dual-use yard for the US Navy and commercial customers.
Since Hanwha acquired the shipyard in December 2024, Hanwha Systems has held a 60% stake, with Hanwha Ocean holding the remaining 40%. In September, Hanwha Systems announced plans to sell its stake to Hanwha Defense USA Shipbuilding, an HDUSA-led joint venture with Hanwha FutureProof.
HDUSA President of US Shipbuilding RADM Tom Anderson (Ret. US Navy) will oversee all shipbuilding operations in the US.
“As Hanwha Defense USA continues to grow its multi-domain presence across the US, bringing the Philly Shipyard under HDUSA will further align our government and commercial shipbuilding efforts,” said HDUSA President and CEO Michael Coulter.
“We look forward to continuing to invest in our Philly Shipyard facilities and workforce in preparation for exciting work ahead.”
“Over the past two years Hanwha has made significant investments in the Philly Shipyard to contribute to the revitalization of the U.S. shipbuilding industry,” said HDUSA President of U.S. Shipbuilding Tom Anderson.
“Now we are positioning the shipyard to transition to dual-use, aligning shipyard operations, workforce, and customer relations in preparation to build for the U.S. Navy, other federal agencies, and commercial customers.”