Hanwha Systems has owned 60% of the yard since Hanwha acquired it in December 2024, with Hanwha Ocean holding the remaining 40%. In September, Hanwha Systems announced plans to 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 Michael Coulter, HDUSA’s president and chief executive officer. “We look forward to continuing to invest in our Philly Shipyard facilities and workforce in preparation for exciting work ahead.”
HDUSA established a presence at the shipyard earlier this year to support its transition to a dual-use facility. Preparations cover yard operations, workforce and customer relationships for work involving the Navy, other federal agencies and commercial customers.
“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 Tom Anderson, HDUSA’s president of U.S. shipbuilding. “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.”
Anderson, a retired U.S. Navy rear admiral, will oversee all HDUSA shipbuilding operations in the United States. The company did not disclose financial terms or a closing date.
