Hanwha Makes $1.2 Billion Bid for Austal USA

Hanwha Defense USA has submitted a non-binding bid of $1.05–$1.2 billion to acquire Austal USA, the U.S. operations of Australian shipbuilder Austal, in a move that could significantly expand Hanwha’s footprint in the U.S. naval and defense-industrial base. Austal USA operates a major shipyard in Mobile, Alabama, employs roughly 3,500 people, and builds vessels and submarine modules for the U.S. Navy and Coast Guard. Austal has granted Hanwha a four-week due-diligence period, although a final transaction would still face negotiations and regulatory review. Strategically, the acquisition would complement Hanwha’s 2024 purchase of Philly Shipyard and accelerate its push into U.S. shipbuilding at a time when Washington is prioritizing greater domestic naval production capacity. Hanwha already has significant economic exposure to Austal through a 9.9% direct stake plus an additional equity-swap arrangement.