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Hanwha Aerospace Confirms Binding MOU for Spain Howitzer Program

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Hanwha Aerospace (KRX:012450) said it signed a binding memorandum of understanding with Indra Sistemas and UTE ATP CADENAS to participate in Spain's self-propelled howitzer modernization program, according to a Thursday regulatory filing.

The MOU covers product supply, cooperation on localization and local production development, the company said.

Hanwha Aerospace said it is discussing the specific terms of a contract and will provide an update when an agreement is signed or within six months, whichever comes first.

The filing follows the company's clarification of a March media report that said Hanwha Aerospace signed an MOU with Spain's largest defense company for local production of its K9 self-propelled howitzer.

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