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Hanwha Aerospace announced on Tuesday that it has signed a contract to supply aircraft engine parts for approximately USD 320 million (about 360 billion won) wi ....
Hanwha Aerospace signs supply contract worth won 366 billion with GE ANI | Updated: May 26, 2021 09:47 IST Seoul [South Korea], May 26 (ANI/Global Economic): Hanwha Aerospace announced on Tuesday that it has signed a contract to supply aircraft engine parts for approximately USD 320 million (about 360 billion won) with GE, an aircraft engine manufacturer. Through this contract, Hanwha Aerospace plans to supply a total of 72 engine parts for civil and military use, including GE s flagship engines GEnx, GE90 and LM2500, from 2023 to 2026. An official from Hanwha Aerospace said, We have been recognized as a strategic partner of GE as well as a manufacturer specializing in aviation engine parts the technology and quality that we have accumulated over the past 40 years. ....
Provided by Dow Jones By Kwanwoo Jun Hanwha Aerospace Co. s shares rallied Tuesday after the South Korean company struck a $322.3 million deal to supply engine parts to General Electric Co. The defense and aircraft-engine company s stock closed 13% higher at 48,950 won ($43.57), notching its biggest daily percentage gain since June 17, 2020. Hanwha Aerospace said in a regulatory filing that it has signed a letter of intent to supply aircraft-engine parts to GE from 2023 to 2026. The rally was also driven by the U.S. and South Korea agreeing over the weekend to lift Washington s restrictions on Seoul s missile development, IBK Securities analyst Lee Sang-hyun says. ....