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Navy/USMC

South Korea’s Hanwha Buys Nearly 10 Percent Shareholding In Australia’s Austal, Seeks 20 Percent

Thursday, March 20th, 2025

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South Korea’s Hanwha Buys Nearly 10 Percent Shareholding In Australia’s Austal, Seeks 20 Percent

The USS Mobile (LCS-26) rolled out of its assembly bay and was launched in early 2020 at shipyard Austal USA in Mobile, Ala.. (Photo: Austal USA)

A major South Korean conglomerate this week purchased a significant stake in Australian shipbuilder Austal, with hopes of expansion. On March 18 Hanwha Group said it acquired a 9.9 percent stake in Austal as a “strategic investment” to become a long-term strategic partner in developing Australian defense capabilities. The company on Tuesday also said it officially applied for approval by the Australian Foreign Investment Review Board (FIRB) to add another 9.9 percent stake via a total return swap, which if…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]