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Hanwha Eyes Austal USA Takeover Amid Navy Contract Woes | Birmingham News
Austal USA, the Mobile shipyard poised for a major shakeup, faces a potential $1.05B–$1.2B cash takeover bid from Hanwha Defense USA — a move that could reshape American shipbuilding amid mounting financial woes. Austal Ltd.’s parent company now expects an $80M loss instead of a $78M profit, largely due to costly U.S. Navy contract setbacks, especially on Navajo-class vessels. With plans to grow its workforce to 5,000 and tackle big projects like submarine modules, Austal’s future hangs in the balance. Hanwha, already holding a stake in Austal Ltd., sees this as a strategic leap into U.S…
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