ONEX and Hanwha Ocean sign landmark defense shipbuilding deal

A strategic practice statement has been signed betwixt ONEX Shipyards & Technologies Group and South Korea’s shipbuilding radical Hanwha Ocean, aimed astatine processing defence shipbuilding enactment successful Greece and the wider regions of the Mediterranean and Southeast Europe.

The statement was signed successful Seoul successful the beingness of executives from some companies, arsenic well arsenic representatives of governments and diplomatic missions.

Following the vision acceptable retired successful the landmark Washington agreement, the ONEX Group is emerging arsenic the archetypal Greek shipbuilding radical with a truly outward-looking orientation, present holding a starring presumption successful the planetary marketplace for defence vessels, submarines, arsenic well arsenic next-generation manned and unmanned systems.

Greece arsenic Hanwha Ocean’s strategic hub

Through this partnership, ONEX shipyards are becoming Hanwha’s cardinal shipbuilding limb successful the region. The collaboration creates the astir almighty shipbuilding ecosystem successful the Mediterranean, uniquely combining Hanwha’s Korean shipbuilding excellence, cutting-edge US defence technologies, and Greece’s high-level shipbuilding craftsmanship and expertise.

Technological borderline and implicit 70% home participation

The statement ensures that the Hellenic Navy gains contiguous entree to state-of-the-art vessels and submarines, while for the archetypal clip Greece acquires the capableness to:

– Fully conception ships and submarines domestically, with Greek information expected to transcend 70%.

– Develop export enactment successful third countries, strengthening the country’s planetary standing.

– Establish a imperishable accumulation and maintenance, repair and overhaul (MRO) basal successful Greece serving the wider region.

– Economic footprint and occupation creation.

This concern is acceptable to supply a large boost to the Greek economy, creating thousands of new, high-paying jobs and delivering unprecedented benefits to the home concern ecosystem.

Backed by the United States and South Korea, ONEX is positioning Greece astatine the forefront of the planetary defence industry, enhancing some determination information and prosperity.

In a statement, ONEX Chairman and CEO Panos Xenokostas said: “Today, our shipyards are not simply turning a page—they are starring a planetary defence transformation. Our strategic concern with Hanwha Ocean is simply a tangible validation of our vision for Greece that does not simply devour technology, but produces and exports it.

Within the model of the landmark agreement, we are creating successful our state the astir almighty shipbuilding ecosystem successful the region, combining American technological enactment with Korean excellence. For the archetypal clip successful our history, we are gathering next-generation ships and submarines with Greek hands, ensuring home value added exceeding 70%.

We are not lone strengthening the deterrent capableness of our Navy, but besides creating thousands of well-paid jobs, transforming Greece into an planetary innovation hub bearing the seal of the United States and Korea.

The aboriginal of the planetary shipbuilding manufacture present besides runs done Greece.”