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Hanwha Engine Dismisses Media Reports of Aftermarket Business Spinoff

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South Korean marine engine producer Hanwha Engine (KRX:082740) dismissed media reports that it was considering spinning off its Aftermarket business and acquiring business units from affiliate companies Hanwha Ocean (KRX:042660) and Hanwha Aerospace (KRX:012450).

The report published by E-Today that Hanwha Engine planned to spin off its Aftermarket division and acquire the equipment business of Hanwha Ocean and the propulsion-related defense business of Hanwha Aerospace was groundless, Hanwha Engine said in a Wednesday filing with the Korea Exchange.

Shares of Hanwha Engine rose over 2% in recent trade, while those of Hanwha Ocean added more than 6%.

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