Samsung sells defence business to Hanwha
The South Korean giant, Samsung Group has abruptly agreed to sell its majority 32.35% stake in its defence arm to the Hanwha group.
Hanwha’s bid to acquire Samsung Techwin for an estimated USD759 million is expected to be completed in the first half of 2015, subject to regulatory approval.
Samsung Techwin executive vice-president Han Soo Jung stated on 4 December: ‘The Hanwha group’s investment in Samsung Techwin will enable us to continue to research, design and develop innovative, market-leading solutions that will create new business opportunities and ensure our future growth.’
Samsung Techwin’s revenues amounted to $2.7 billion last year.
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free stories per week
- Daily news round-up email service
- Access to all Decisive Edge email newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
You may also like
More from Land Warfare
-
![Italy orders Skynex air defence system – with an option for three more]()
Italy orders Skynex air defence system – with an option for three more
Skynex systems are designed to counter threats from missiles, artillery and mortars, as well as drones and loitering munitions.
-
![Germany asks for an offer on 6x6 Patria order]()
Germany asks for an offer on 6x6 Patria order
The Patria 6x6 Common Armoured Vehicle System (CAVS) armoured personnel carrier (APC) is a wheeled vehicle which can be used for a variety of roles.
-
![New ROGUE-Fires contract moves programme forward]()
New ROGUE-Fires contract moves programme forward
The $29.9 million agreement covers the delivery of 48 platforms.
-
![British Army and UK Royal Navy new counter-drone soft-kill systems near fielding]()
British Army and UK Royal Navy new counter-drone soft-kill systems near fielding
Ongoing military operations in Europe and the Middle East have accelerated the development of a variety of systems to defeat uncrewed aerial systems (UAS).
