Hanwha Defense USA (HDUSA) is moving to acquire a controlling stake in Hanwha Philly Shipyard, bringing the shipyard under HDUSA’s leadership and governance structure.
HDUSA established a presence at Hanwha Philly Shipyard earlier this year, signalling the company’s transition into a dual-use shipyard serving both the U.S. Navy and commercial customers.
From the time Hanwha acquired the shipyard in late 2024, Hanwha Systems held a 60% stake, while Hanwha Ocean held a 40% stake.
In September, Hanwha Systems announced it would sell its stake to Hanwha Defense USA Shipbuilding LLC, an HDUSA-led joint venture with Hanwha FutureProof.
“As Hanwha Defense USA continues to grow its multi-domain presence across the U.S., bringing the Philly Shipyard under HDUSA will further align our government and commercial shipbuilding efforts,” said HDUSA president and chief executive officer Michael Coulter. “We look forward to continuing to invest in our Philly Shipyard facilities and workforce in preparation for exciting work ahead.”
Retired U.S. Navy Rear Admiral Tom Anderson, president of US shipbuilding at Hanwha Defense USA, will oversee the group’s US shipbuilding operations.
“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,” Anderson said. “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.”
