(PHILADELPHIA) — Philly Shipyard and HD Hyundai Heavy Industries (HHI) have signed a memorandum of understanding to explore a potential business relationship relating to future U.S. government shipbuilding projects as well as maintenance, repair and overhaul (MRO) projects.
The memorandum was signed during a visit from HHI to Philly Shipyard on April 12 and was attended by officials from both companies, including Dr. Won ho Joo, chief executive of naval and special ship business at HHI, and Steinar Nerbovik, president and CEO, Philly Shipyard.
“Philly Shipyard and HD Hyundai have a long and gratifying history of working together, and we are honored by the idea of future cooperation with HHI on opportunities for U.S. government shipbuilding projects,” Nerbovik said.
“We look forward to further growing HHI’s presence in the global defense market through collaboration with U.S. companies in government and military vessels building and MRO business,” said Joo.
Philly Shipyard previously partnered with HD Hyundai for design and procurement support during construction of 22 commercial product tankers from 2005 to 2017. HHI is the world’s largest shipbuilding company and a world leader in the heavy industries sector.
– Philly Shipyard
