Latest news with #MichaelCoulter
Korea Herald
2 days ago
- Business
- Korea Herald
Hanwha teams up with Canadian industry to advance submarine project bid
Korean shipbuilder Hanwha Ocean said Friday it has partnered with leading Canadian security and defense firms to strengthen its bid for a Canadian submarine project with an estimated value of up to 60 billion Canadian dollars ($43.4 billion). Alongside its parent company, Hanwha Aerospace, Hanwha Ocean signed agreements with cybersecurity provider BlackBerry and marine defense systems developer L3Harris MAPPS during Canada's Global Defence & Security Trade Show, known as CANSEC 2025. The two-day event, Canada's largest defense industry gathering, began Wednesday and featured Hanwha as the only participating Korean defense company. The agreements were signed in the presence of Michael Coulter, CEO of Hanwha Global Defense, who oversees global operations for Hanwha Aerospace and Hanwha Ocean, along with Phil Kurtz, chief legal officer of BlackBerry, and Rich Foster, vice president of L3Harris Technologies Canada. 'We see significant opportunities for synergies between Hanwha Ocean and these Canadian partners -- BlackBerry and L3Harris,' said CEO Coulter. 'With the signing of these MOUs, Hanwha can begin developing strategic relationships with these partners, which will also enhance and strengthen the relationship between Canada and South Korea.' Hanwha expects the partnerships will tighten its alignment with Canadian industry and provide an opportunity to leverage its partners' long-standing experience with the Canadian Navy, in particular giving new momentum to its bid for Canada's submarine procurement plan, which includes up to 12 vessels. Hanwha Ocean, with extensive submarine manufacturing experience, is collaborating with another Korean shipbuilding giant, HD Hyundai Heavy Industries, to propose advanced KSS-III-class submarines, designed and built using domestic Korean technology.
Yahoo
3 days ago
- Business
- Yahoo
Canadian Army looks to spend more than $6 billion on new howitzers and rockets
The Canadian Army is looking at spending more than $6 billion for new self-propelled howitzers and ground-based long-range rockets, according to briefings provided to defence industry representatives. The Indirect Fires Modernization program, expected to cost more than $5 billion, will see the acquisition of self-propelled 155-mm artillery, ammunition as well as new mortar systems, according to a Canadian Army briefing for industry presented April 8 in Ottawa. Information about such equipment was requested from industry, which had until April 2 to provide details about their systems, according to a request-for-information document issued by the Canadian government. The program would include fire control software and investments in new infrastructure at military bases, including Garrison Petawawa, the request noted. A project funding proposal is currently being prepared for the Liberal government, according to the April 8 army briefing. The second program is for a new land-based long-range missile system. The initial cost estimate for that is more than $1 billion but the price tag could be higher depending on how many rockets are ordered. The Ottawa Citizen reported in March that Canada's military leadership was pushing for a sole source deal for the U.S.-built High Mobility Artillery Rocket System or HIMARS. The plan that had been proposed by the Canadian Forces senior leadership would see the purchase of a number of HIMARS built by Lockheed Martin. But that acquisition has been questioned by some in the defence industry, especially considering the economic and sovereignty threats made against Canada by U.S. President Donald Trump. Another problem is that orders of U.S. HIMARS are significantly backlogged and it is unclear whether Canada could get any quick delivery of such systems. A total of 26 launchers are needed, according to the April 8 Canadian Army briefing to industry. South Korean defence giant Hanwha is currently pitching Canada on both the high mobility artillery rocket systems and the self-propelled artillery program. The company has hot production lines which are currently building the equipment for a number of nations. It has delivered its K9 self-propelled howitzer to 10 countries so far, including six NATO members. In addition, Polish soldiers are currently undergoing training on the Chunmoo high mobility rocket systems which were purchased to counter Russian aggression. The focus for Hanwha is not only on partnering with Canadian firms but delivering high technology quickly, Michael Coulter, CEO of Hanwha Global Defence, said in an interview Tuesday. Technology transfer allows Canada to make sure it has sovereign control over its military equipment, a particular area of concern for a number of nations considering some of the issues that have emerged with U.S. equipment. 'We can delivery very quickly on time to make a difference for the military and the politicians for sovereign capabilities,' Coulter said. The K9 self-propelled howitzers and the accompanying K10 ammunition resupply vehicles can be delivered in 12 months once a contract is signed. Chunmoo systems would arrive within 24 months. In addition, the systems are interoperable with U.S. equipment. Coulter noted the U.S. military has expressed an interest in seeing the K9 tested for its forces. Coulter said Hanwha already has 10 agreements in place to work with Canadian companies and more such arrangements are expected to be announced at the CANSEC military trade show which takes place in Ottawa on May 28 and 29. The Liberal government has also stated it will purchase up to 12 new submarines for the Royal Canadian Navy. Hanwha is offering its KSS-III submarine for that program. If the contract was signed in 2026 the first submarine could be delivered by 2032, according to company officials. The South Korean submarines, three of which are already built, can operate underwater for more than three weeks, without having to surface. In addition, the boats have a range of more than 7,000 nautical miles. Both capabilities would make them valuable for Arctic operations, company officials say. Maintenance facilities would be established in Canada, and unlike with U.S. weapon systems, the South Koreans would provide Canada with total access to the onboard technology. South Korea developed its own robust defence industry after being hit by rising prices and unreasonable demands linked to U.S.-produced equipment. David Pugliese is an award-winning journalist covering Canadian Forces and military issues in Canada. To support his work, including exclusive content for subscribers only, sign up here: Canadian Forces pushing for sole source deal for U.S. weapons as Trump continues attacks on Canada South Korea wants to sell submarines to Canada as relations sour with U.S.
Korea Herald
23-05-2025
- Business
- Korea Herald
Hanwha to showcase submarine, artillery systems at CANSEC 2025 in Canada
South Korea's Hanwha Group said Friday it will participate in CANSEC 2025, Canada's largest defense trade show, to showcase a comprehensive suite of advanced defense solutions aimed at strengthening Canada's sovereign capabilities. At the two-day exhibition to open in Ottawa on Wednesday, Hanwha plans to showcase its cutting-edge land and maritime systems, including the KSS-III submarine and the K9 self-propelled howitzer, as part of efforts to support Canada's defense modernization initiatives. As part of its bid for the Canadian Patrol Submarine Project, Hanwha Ocean has proposed the KSS-III submarine, equipped with both lithium-ion batteries and an air-independent propulsion system. The KSS-III can remain submerged for over three weeks and has an estimated range exceeding 7,000 nautical miles. If the contract is awarded in 2026, Hanwha aims to deliver the first batch of submarines by 2032 and the remainder by 2035. The company also plans to establish a local In-Service Support center in Canada, providing long-term maintenance and upgrades. Hanwha Aerospace will also highlight its K9 155-millimeter self-propelled howitzer, currently in service in 10 countries. The system, which offers a 40-kilometer range and a maximum firing rate of eight rounds per minute, is being proposed for Canada's Indirect Fires Modernization program. "Hanwha is deeply committed to Canada's defense, offering global-leading technology with local production and support," said Michael Coulter, chief executive officer of Hanwha Global Defence. "Our 'Made with Canada, For Canada' approach is designed to generate jobs, enhance defense readiness and reinforce long-term strategic cooperation between the two countries." (Yonhap)
The Star
29-04-2025
- Business
- The Star
Hanwha in advanced talks over arms production for Saudi Arabia
A welder works on a K9 Howitzer at Hanwha Aerospace's manufacturing facility in Changwon, South Korea, on Thursday, April 18, 2024. - Bloomberg SEOUL: Hanwha Aerospace Co. is in advanced discussions with Saudi Arabia over potential arms collaboration as the Middle East becomes the company's main focus, according to the head of its global defence business. The burgeoning opportunities in the region are a major reason South Korea's largest defence contractor decided to announce a share-sale plan last month to raise funds, said Michael Coulter, who was named global defence president and chief executive officer at Hanwha at the end of last year. "We're in discussions both in Saudi Arabia and the United Arab Emirates right now about programmes that will create capacity in the Middle East, that addresses sovereign' issues, and also helps address security threats, Coulter said in an interview with Bloomberg. "There's a real opportunity for us to meet security challenges in the Middle East through local facilities.' Hanwha has been one of the biggest beneficiaries from the surge in global demand for ground weapons following the outbreak of wars in Ukraine and the Middle East. The company's shares have rallied almost 30-fold over during the past five years, and it's Asia's top-performing stock this year. Known for its ability to deliver weapons faster and cheaper than rivals, the firm's flagship weapons include the K9 self-propelled howitzer. The company's shares fell 2.1 per cent Tuesday (April 29) while the benchmark Kospi was little changed. Hanwha is still deciding on the exact form of its involvement in Saudi Arabia, but it may be able to announce an agreement later this year, said Coulter, a former US navy officer. "We have not come to full decision yet on whether it's facility in Saudi Arabia, or a joint venture, or a partnership, or we're supporting a Saudi defence company, so that's that but the market demand is there,' he said. Hanwha's overtures come as Saudi Arabia is investing trillions of dollars in a plan to develop the non-oil economy, including a goal to localize 50 per cent of its military spending by 2030 under the plan it has called Vision 2030. Middle East arms sales are a sensitive topic for South Korea as the country seeks to balance its ties with Arab states and its relations with its sole treaty ally the US, which has longstanding security relations with Israel. Hanwha earlier this month trimmed the size of its planned share sale to 2.3 trillion won (US$1.6 billion) from an original 3.6 trillion won, following pushback from investors and financial authorities. The Financial Supervisory Service has also objected to its revised plan. The decision to reduce the offering showed "a very responsible willingness by a company to listen to its investors and shareholders,' Coulter said. "Yes, there's a potential for a slight dilution in the near term, but look at our track record, look at the market opportunity, we've walked everybody through where we're making the investments and the return on those investments from a business standpoint,' he said. Hanwha is also in talks with a number of Western European nations about how it may help them increase their arms-making capacity in the face of rising global instability. "We're not intent on coming in and taking over and displacing European partners,' Coulter said. "We're talking with governments, but we're also talking with industry and saying where have you invested? Where have you not invested? Where can we be a partner?' Coulter said he was optimistic the US and South Korea will reach a deal that will avert a protracted trade dispute stemming from the Trump administration's threat of higher tariffs. "We are very confident that the two governments are going to come to resolution,' he said. "There is a huge US Army presence here. We have US Navy ships in our shipyards here in Korea. So our governments are talking through that. I'm cautiously optimistic that will pan out and it won't become a political issue.' - Bloomberg
Yahoo
25-02-2025
- Business
- Yahoo
3 Stocks Estimated To Be Trading At Discounts Up To 49.7%
Amid a turbulent week in global markets, marked by geopolitical tensions and concerns over consumer spending, major indexes experienced declines despite early gains. As investors navigate these uncertainties, identifying undervalued stocks can offer potential opportunities; these are often characterized by strong fundamentals and resilience against market volatility. Name Current Price Fair Value (Est) Discount (Est) OSAKA Titanium technologiesLtd (TSE:5726) ¥1862.00 ¥3721.49 50% América Móvil. de (BMV:AMX B) MX$14.89 MX$29.71 49.9% Aoshikang Technology (SZSE:002913) CN¥29.51 CN¥58.56 49.6% CD Projekt (WSE:CDR) PLN221.70 PLN441.47 49.8% Food & Life Companies (TSE:3563) ¥4154.00 ¥8301.16 50% BalnibarbiLtd (TSE:3418) ¥1067.00 ¥2117.17 49.6% Hanwha Aerospace (KOSE:A012450) ₩682000.00 ₩1354744.21 49.7% Siam Wellness Group (SET:SPA) THB5.35 THB10.69 49.9% Shenzhen Anche Technologies (SZSE:300572) CN¥18.69 CN¥37.15 49.7% Doosan Fuel Cell (KOSE:A336260) ₩16320.00 ₩32574.92 49.9% Click here to see the full list of 915 stocks from our Undervalued Stocks Based On Cash Flows screener. Let's dive into some prime choices out of the screener. Overview: Hanwha Aerospace Co., Ltd. is involved in the development, production, and maintenance of aircraft engines globally, with a market cap of ₩30.28 trillion. Operations: Hanwha Aerospace's revenue is derived from several segments, including the Defense Sector at ₩7.24 trillion, Security Sector at ₩2.02 trillion, Aviation Sector at ₩1.86 trillion, ICT Sector at ₩694.56 million, Industrial Equipment Sector at ₩453.40 million, and Aerospace Division at ₩160.56 million. Estimated Discount To Fair Value: 49.7% Hanwha Aerospace is trading at nearly 50% below its estimated fair value, making it highly undervalued based on discounted cash flow analysis. Despite having high non-cash earnings and a volatile share price, the company is projected to achieve significant revenue and earnings growth of over 30% annually, outpacing the Korean market. However, operating cash flow does not adequately cover debt obligations. The recent appointment of Michael Coulter as global defense CEO may bolster strategic direction in defense sectors. Our expertly prepared growth report on Hanwha Aerospace implies its future financial outlook may be stronger than recent results. Dive into the specifics of Hanwha Aerospace here with our thorough financial health report. Overview: Ningbo Deye Technology Group Co., Ltd. specializes in the production and sales of heat exchangers, inverters, and dehumidifiers across China, the UK, the US, Germany, India, and other international markets with a market cap of CN¥59.26 billion. Operations: The company's revenue primarily comes from its production and sales of heat exchangers, inverters, and dehumidifiers across various international markets including China, the UK, the US, Germany, and India. Estimated Discount To Fair Value: 24.5% Ningbo Deye Technology Group is trading at CN¥92.08, approximately 24.5% below its estimated fair value of CN¥121.9, indicating it is undervalued based on discounted cash flow analysis. The company demonstrates strong growth potential with earnings expected to increase significantly by 27.63% annually and revenue forecasted to grow at 30.4% per year, surpassing the Chinese market average growth rate, making it an attractive option for investors seeking undervalued stocks with robust cash flows. The analysis detailed in our Ningbo Deye Technology Group growth report hints at robust future financial performance. Take a closer look at Ningbo Deye Technology Group's balance sheet health here in our report. Overview: Zhejiang Lante Optics Co., Ltd. manufactures and sells optical products in China with a market cap of CN¥12.32 billion. Operations: The company's revenue segments include optical lenses at CN¥1.45 billion and optical components at CN¥2.75 billion. Estimated Discount To Fair Value: 11.3% Zhejiang Lante Optics is trading at CN¥29.6, slightly below its fair value estimate of CN¥33.37, suggesting it may be undervalued based on cash flows. The company's earnings grew by 21.5% last year and are forecast to increase significantly at 26.39% annually, outpacing the Chinese market average. Recent earnings reported a rise in sales to CN¥1.03 billion and net income of CN¥218.59 million, highlighting strong financial performance potential despite a modest discount from fair value. Our growth report here indicates Zhejiang Lante Optics may be poised for an improving outlook. Click here and access our complete balance sheet health report to understand the dynamics of Zhejiang Lante Optics. Take a closer look at our Undervalued Stocks Based On Cash Flows list of 915 companies by clicking here. Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KOSE:A012450 SHSE:605117 and SHSE:688127. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
