A global export agreement has been struck between the companies, which would see Australian steel used in the construction of Hanwha’s armoured vehicles.
South Korea-based Hanwha Defense has signed a memorandum of understanding (MOU) with NSW-based Bisalloy Steel, which is set to supply steel for the manufacture of Redback Infantry Fighting Vehicles (IFVs) and K9 Self-Propelled Howitzers.
The companies have also committed to conducting a joint technical analysis to explore whether Bisalloy steel can be integrated into the vehicles for export to overseas markets.
This includes potential support for Hanwha’s $1.6 billion K9A1EGY contract with the Egyptian Ministry of Defence.
This latest MOU, signed last week, is in addition to Bisalloy Steel’s support for Hanwha Defense Australia’s bid for the Commonwealth government’s LAND 400 Phase 3 program – an $18 billion-$21 billion project to supply a fleet of up to 450 next-generation IFVs to the Australian Army.
Michael Gundy, managing director of Bisalloy Steel welcomed the opportunity to join Hanwha’s global armoured vehicle supply chain.
“Bisalloy Steel’s capability has been proven over its 40-year of history, and through working together we believe we will contribute to Hanwha’s product portfolio and its international business,” Gundy said.
“We look forward to expanding our business with Hanwha in the years ahead.”
Son Jae-il, CEO and president of Hanwha Defense reflected on the importance of the partnership with Bisalloy Steel.
“We are very excited to expand cooperation with Bisalloy Steel for international markets, as we have been delighted with Bisalloy steel’s proven quality through the performance of the Redback IFV,” Son Jae-il said.
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“We will explore ways to use Bisalloy steel further for the K9 Self-Propelled Howitzer, as well as the Redback IFV.”
The signing of the MOU comes just days after Hanwha Defense Australia announced it was selected to support the Oshkosh Defense OMFV Consortium – a cooperative participating in the US Army’s Optionally Manned Fighting Vehicle (OMFV) program Concept Design Phase.
The consortium – which includes Hanwha Defense USA, Pratt Miller Defense, Rafael Advanced Defense Systems, QinetiQ Inc, and Plasan – is expected to leverage the chassis technology used in the Redback IFV.
The US Army's OMFV program aims to replace nearly 3,800 Bradley Fighting Vehicles among its Armored Brigade Combat Teams.