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?
More from Land Warfare
-
CV90 revels in northern exposure while looking for new customers (updated April 2025)
The BAE Systems Hägglunds’ CV90 IFV has been around for decades but continual refreshing to maintain power and relevance, along with a healthy market at home in Sweden and neighbouring countries, has led to more than 1,700 vehicle orders with 10 countries.
-
Oshkosh notches JLTV win with Dutch order
The order further extends the Oshkosh Defense production line as AM General, selected for US orders, pushes to get vehicles out the door with no room for export orders.
-
Dronebuster product line and production capability expanded
DZYNE Technologies, the maker of Dronebuster counter-uncrewed aerial system (C-UAS) devices, has announced plans to expand production and released details on a new version of the system. This follows the release of an all-in-one kit system earlier this year.
-
Ireland plans for radar capability in 2026
The Irish Government has previously outlined ambitious plans, the furthest reach of these being the possible purchase of fighter aircraft to provide a capability the country’s defence force currently doesn’t have. A more advanced procurement effort for a primary radar is being fast tracked.
-
US Army LTAMDS enters production phase
LTAMDS was approved in multiple flight trials and assessments.