Latest / Birmingham AL News Today | 2 Min News | The Daily News Now!
Hanwha Eyes Austal Deal Amid Scrutiny | Birmingham News
A South Korean defense giant, Hanwha Defense USA, is eyeing a $1.2 billion buyout of Austal USA — a major shipyard in Mobile — signaling big confidence in its Navy contracts. But the deal hinges entirely on Hanwha completing due diligence, especially after Austal’s parent company slashed its financial forecast amid ongoing Navy contract issues. This isn’t new for Austal: they’ve already admitted to accounting errors totaling $17 million and faced fallout from past fraud tied to the Littoral Combat Ship program. Meanwhile, Alabama’s infrastructure push — including a new port, bridge, and…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.