Market Chatter: Hanwha Aerospace, GE Aerospace Partner to Develop Naval Gas Turbine Engine Packages; Shares Rise 3%

MT Newswires Live

10/21

Hanwha Aerospace (KRX:012450) and Ohio-based GE Aerospace signed a memorandum of understanding on Monday to develop naval gas turbine engine packages in South Korea, Yonhap News reported Tuesday.

The partnership will cover local development of components and complete LM2500 and LM500 engine packages. The collaboration is expected to lower costs and considerably bring down delivery time, and boost the global maritime defense supply chain, the report said.

Shares of Hanwha Aerospace rose nearly 3% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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