Hanwha said on the 2nd it will take part in a paid-in capital increase for some U.S. subsidiaries in the amount of 110 billion won to support Hanwha Solutions' management efficiency.
According to the Financial Supervisory Service's electronic disclosure system that day, Hanwha invested $75.3 million (about 110.6 billion won) in Hanwha Machinery, which sells machine tools in the United States, on the 28th. The investment will be used to purchase Hanwha International's equity, which holds 43.66% equity in Hanwha Holdings USA, Hanwha Group's U.S. holding company.
Earlier, on the 24th, Hanwha Solutions said its board decided to sell 3,550 shares of Hanwha International to Hanwha Machinery. The move is to streamline management by restructuring overseas subsidiaries. A Hanwha Solutions official said it was a choice to improve investment efficiency by disposing of equity in overseas subsidiaries with low business relevance to Hanwha Solutions.
Hanwha International is an overseas subsidiary of Hanwha Solutions that engages in leasing, trading, and machinery businesses. Hanwha Machinery, which is buying the company's equity, invests in or sells machine tools in the North American market. Hanwha, which owns 100% equity in Hanwha Machinery, is reorganizing overseas subsidiary equity structures to expand its business in the United States and abroad. A Hanwha official said it was "part of Hanwha's business reorganization."
However, Hanwha said this is separate from the expansion of Hanwha Futureproof, Hanwha Group's U.S. investment company that is proceeding in connection with the "MASGA (Make American Shipbuilding Great Again)" project.