Hanwha Aerospace has announced a deal with the Australian government to supply armored tanks worth $2.4 billion. Their subsidiary in Australia, Hanwha Defense Australia, will deliver 129 units of Redback infantry fighting vehicles by 2028. The tanks will be manufactured in a new plant in Australia, set to complete construction next year. This is the first time Hanwha will be supplying military equipment designed for export to a developed country with a military alliance with the US. The company took five years to develop and test the equipment before commercial production. The tanks will be equipped with advanced security features, including a 360-degree security camera and a weapons system that can detect and intercept anti-tank missiles. Hanwha CEO Son Jae-il expressed gratitude to the Korean government and military for their support in securing the deal. He also emphasized the company’s commitment to boosting the defense industry as the nation’s next-generation driver of growth. Hanwha Group Vice Chairman Kim Dong-kwan mentioned plans to further expand the company’s footing in maritime security and the security alliance with the nation’s allies.
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