Philly Shipyard has entered into a share purchase agreement with South Korean companies Hanwha Systems and Hanwha Ocean for the purchase of Philly Shipyard, the sole operating subsidiary of PHLY. The transaction will result in the company selling all of its business against receiving a cash...
Hanwha Group
Hanwha to acquire Philly Shipyard
In deal that was first reported as in the works last October, Philly Shipyard is to be acquired by Korea’s Hanwha Group, whose Hanwha Ocean is the former the former Daewoo Shipbuilding & Marine Engineering.
In a stock exchange announcement today Oslo-listed Philly Shipyard ASA reports that has entered into a share purchase agreement with both Hanwha Systems and Hanwha Ocean for the purchase of its sole operating subsidiary Philly Shipyard, Inc. (PSI).
The transaction will result in the Philly...
https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/hanwha-to-acquire-philly-shipyard/
Australia’s defence minister says government not concerned over possible shipyard takeover by Korean firm
The Australian government is not concerned by a South Korean company’s bid to acquire an Australian naval shipbuilder, Deputy Prime Minister and Minister for Defence Richard Marles confirmed on Wednesday, May 1. Speaking to reporters in Melbourne following a meeting with his South Korean counterpart Shin Won-sik, Mr Marles said that security arrangements can be […]
The post Australia’s defence minister says government not concerned over possible shipyard takeover by Korean firm appeared first on
SECNAV urges Korean shipbuilders to invest in U.S. shipyards
Secretary of the Navy Carlos Del Toro has been meeting with top South Korean shipbuilding executives and making the case for them to create American subsidiaries and invest in integrated U.S. commercial and naval shipbuilding facilities.
Shortly after arriving in Seoul on Sunday, February 25, Secretary Del Toro engaged separately with Hanwha vice chairman and CEO Dong Kwan Kim and HD Hyundai vice chairman and CEO Kisun Chung.
The morning of Tuesday, February 27, Chung personally gave Secretary...
https://www.marinelog.com/shipbuilding/secnav-urges-korean-shipbuilders-to-invest-in-u-s-shipyards/
Hanwha and affiliates to establish clean hydrogen value chain
South Korean Hanwha Group has announced the potential creation of a comprehensive clean hydrogen […]
The post Hanwha and affiliates to establish clean hydrogen value chain appeared first on Offshore Energy.
https://www.offshore-energy.biz/hanwha-and-affiliates-to-establish-clean-hydrogen-value-chain/
Transmission: Can Class 8 truck producers keep up with demand?
There was good news and some questionable news over the weekend. The good news can be summed by the trucking industry deciding it needed more vehicles last month, pushing up sales 108% year-over-year. There was another sale, though, that could generate more questions from the Securities and Exchange Commission (SEC), which is investigating former Nikola CEO Trevor Milton. He sold 3.5 million of his Nikola shares for $49 million six months after he resigned in a cloud of controversy.
Read all...
https://www.freightwaves.com/news/transmission-can-class-8-truck-producers-keep-up-with-demand
Trevor Milton rakes in $49M in sale of 3.5M Nikola shares
Former Nikola Corp. (NASDAQ: NKLA) Executive Chairman and founder Trevor Milton pocketed about $49 million from selling 3.5 million shares in the startup electric truck company last week.
Milton is the subject of federal investigations over fraud claims alleged by a short seller that drove the company’s stock price to crater last fall. It is trading in the teens from a high of more than $90 a share following its public debut in June 2020.
With about 20.1% of shares outstanding, Milton remains the...
https://s29755.pcdn.co/news/trevor-milton-rakes-in-49m-in-sale-of-35m-nikola-shares
Second major partner cuts stake as Nikola plans $100M sale of new shares
Green Nikola Holdings plans to cut its ownership stake in Nikola Corp. (NASDAQ: NKLA) by 50%. The subsidiary of South Korean solar panel maker Hanwha Group is the second major partner to reduce its holdings in the troubled electric truck startup.
The action follows Nikola’s filing on Monday to sell $100 million in new shares. The additional shares would dilute the value of shares currently held.
The Hanwha affiliate said it still believes in Nikola’s plans for zero-emissions trucking by battery...
https://www.freightwaves.com/news/second-major-partner-cuts-stake-as-nikola-seeks-new-100m