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Hanwha Aerospace Wins Derivative Contract for Spain K9 Self-propelled Howitzer

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Hanwha Aerospace (KRX:012450) signed a derivative contract with Spain's Indra Sistemas for the supply of K9 self-propelled howitzers, according to a Monday filing with the Korea Exchange.

The contract period and amount may change depending on the progress. The contract took effect Aug. 28, it said.

The company said the details may be disclosed after the confidentiality period ends on Nov. 28. The payment terms include a 20% advance payment upon signing and an additional 5% payment by Dec. 31, the filing said.

Shares of Hanwha Aerospace fell nearly 5% at market close.

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