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