Hanwha Aerospace (KRX:012450) secured a follow-up contract worth 546 million euros, or 948.2 billion won, from the Finnish Ministry of Defence to supply K9 Self-Propelled Howitzers (SPH), the defense products manufacturer said in a Friday release.
Finland first ordered 48 K9 units in 2017 and has since then placed several orders for the same. With the latest deal, Finland became the third NATO member, after Türkiye and Poland, to operate more than 200 units of K9, it said.
The contract comprises 112 K9 systems and spare parts, with deliveries to the Finnish Army scheduled to commence from 2028, the release said.
Shares of Hanwha Aerospace rose nearly 4% at market close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.