Philly Shipyard ASA (AKRRF) has released an update.
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Philly Shipyard ASA has entered into a Share Purchase Agreement to sell its subsidiary, Philly Shipyard Inc., to Hanwha for $100 million, with an expected closure in Q4 2024. The company has a strong order backlog valued at $1.52 billion, with deliveries extending to 2027, and reports improved EBITDA losses compared to the previous year’s figures. Philly Shipyard continues its shipbuilding operations, with multiple vessels in various production stages and is also enhancing its sustainability and ESG initiatives.
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