A Strategic Cooperation Agreement with Hanwha Ocean, a shipbuilding and offshore company, focuses on enhancing collaboration in the global naval market. This partnership will target major procurement projects, including Poland’s Orka submarine programme and Canada’s Patrol Submarine Project, offering tailored solutions across the lifecycle of naval platforms, from acquisition to operation.
This new agreement builds on an established relationship between Babcock and Hanwha Ocean. In June 2023, Babcock Canada signed a Technical Cooperation Agreement with Hanwha to support submarine sustainment and the Canadian Patrol Submarine Project. Earlier this year, the two companies entered into a Teaming Agreement to collaborate on global submarine initiatives.
In a separate development, Babcock has signed a Memorandum of Understanding with Korea Aerospace Industries Ltd. (KAI). This partnership aims to explore opportunities in military flying training, air base support, and engineering, focusing on Central, Eastern, and Southern Europe. Both companies bring extensive expertise in military aviation to address the evolving needs of air forces and help maintain critical sovereign capabilities.
David Lockwood, Babcock’s Chief Executive Officer, highlighted the significance of these agreements during a visit to South Korea. He stated: “We have long-standing relationships and an established presence in South Korea. These agreements will help to grow these exciting strategic partnerships, leveraging our respective capabilities to pursue global prospects and to deliver impactful results for our customers.”
