Hanwha Ocean is interested in the shipyard listed on the Oslo Stock Exchange.
South Korean shipyard Hanwha Ocean reported on Friday that it is “considering options regarding overseas operations, including the Phili shipyard.”
Hanwha Ocean has not yet shared any details about what these options entail.
This announcement comes after an article published by the Korean newspaper Money Today on October 10, which stated that Hanwha Ocean is interested in purchasing Philly Shipyard.
Hanwha Ocean has not previously confirmed that it is interested in the Philly shipyard.
Philly Shipyard’s stock price rose 36 percent on the day the article was published in October.
Philly Shipyard is listed on the Oslo Stock Exchange with a market capitalization of NOK 500 million.
The company builds ships in the American city of Philadelphia.
In the third quarter, Philly Shipyard had revenue of $101.8 million, up from $92.6 million at the same time last year.
However, the company loses money. The operating result (ebit) was minus $19.1 million, down from minus $16.5 million. Profit before tax was minus $17.2 million, compared to $15.9 million at the same time last year.
Billionaire Kjell Inge Røkke’s Aker Capital owns a 57.6 percent stake in Philly Shipyard.
Philly Shipyard has not yet responded to E24’s inquiry about this matter.
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