Hanwha submits $1.05–1.2 billion bid to acquire Austal USA

Hanwha Group (Hanwha Ocean)

Hanwha Ocean made a non-binding acquisition proposal for Austal USA valued between $1.05 and $1.2 billion, covering Austal's Mobile, Alabama shipyard and US operations. Hanwha already owns 9.9% of Austal directly plus an additional 9.9% via a cash-settled equity swap. The acquisition would expand Hanwha's US naval shipbuilding footprint to two major facilities and give it access to Austal's expertise in nuclear submarine module manufacturing.

• Hanwha bids $1.05–1.2 billion for Austal's US operations (Australia, Philippines, Vietnam excluded).
• Austal USA specializes in nuclear submarine modules for Virginia-class and Columbia-class submarines.
• Deal requires CFIUS and DCSA approval for foreign control of naval shipbuilding assets.
• Austal is facing financial pressure: FY2026 operating loss forecast at A$175 million.