Hanwha Corporation, Signing an Agreement with Claverham Limited, a UTC Aerospace Systems* Business for Aerospace Products
[North Carolina, United States, 10 March, 2015] Hanwha Corporation signed a long-term export agreement for aircraft hydraulic systems with Claverham Ltd., an affiliate of the world's leading manufacturer of aerospace products, UTAS Group. The signing has occurred in the United States – Charlotte, on March 10th 2015, with direct involvement of Mr. YC Kim (CEO of Hanwha Corporation/Machinery).
The contract is in excess of $50 million of active programs and future program with potential of additional $50 million. This long-term agreement ("LTA") was signed upon long relationship between two companies and considered as a good opportunity for Hanwha Corporation for future growth.
By signing the LTA, Hanwha Corporation will supply aerospace hydraulic products for UTAS on global programs including B787 (Boeing), AW139 (Augusta Westland), and CH53K (Sikorsky). Since all these programs are best sellers in the market, Hanwha expects for further growth in business than what is visible in close future.
With new achievement, Hanwha Corporation plans to continue enhancing relationship with UTAS while diversifying its global aerospace business.
* UTAS is a major global player in the aerospace industry and with annual sales volume of $14 billion (2014) and is one of the world's largest suppliers of technologically advanced aerospace and defense products.
For more information:
- Hanwha Corp. Communication Team
- DS Kang, Manager
- Tel: (822)729 1607
Hanwha Corporation, the parent company of the Hanwha Group, is a global manufacturing company that has directly contributed to the growth of South Korea's economy. There are 3 divisions under the Hanwha Corporation: Global, Defense, and Machinery. Hanwha Corporation was founded in 1952 as Korea Explosives Company, quickly becoming the leader in the explosives industry of South Korea. It has since grown into a global manufacturing company operating in three business areas—explosives and chemical, defense, and machinery.
In 1959, Hanwha was the first domestic manufacturer of dynamite in South Korea. After having successfully developed safer, high-quality industrial explosives and fire process products, we have been able to supply the South Korean government with the crucial means to rebuild its cities and infrastructure.
For more information, visit: www.hanwhacorp.co.kr/eng
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has more than 85 domestic affiliates and over 380 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.
For more information, visit: www.hanwha.com
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