Aug 11, 2026 – 10.53amSouth Korean conglomerate Hanwha has lobbed a $1.7 billion bid for Austal’s United States division, as Australia’s biggest shipbuilder warned that a $175 million hit from a bad contract with the Pentagon would plunge it to an annual loss.Austal derives more than two-thirds of its revenue from the US, operating a manufacturing facility in Alabama where 3500 staff build aluminium and steel ships, submarine parts, and floating dry docks for the US Navy and Coast Guard.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
South Korea’s Hanwha makes $1.7b bid for Austal’s US unit
Australia’s biggest shipbuilder will consider the offer, while warning of a $175 million hit from its contract with the US Navy.
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