Hanwha Aerospace(012450)'s K9 self-propelled howitzer is entering Spain.

Marines from the 6th Brigade fire K9 self-propelled howitzers during a live-fire drill near the Northern Limit Line (NLL) in the West Sea on the 25th. /Courtesy of News1

Hanwha Aerospace said on the 31st that it signed an execution contract with Spanish defense company Indra Sistemas to export the K9 self-propelled howitzer.

Hanwha Aerospace and Indra decided not to disclose the contract amount or the exact number of units.

However, considering the Korea Exchange (KRX) rule for order disclosures (2.5% of revenue), the contract is seen to exceed 667.5 billion won.

On Mar. 3, Hanwha Aerospace signed a memorandum of understanding (MOU) with Indra on a self-propelled howitzer modernization program. Under the arrangement, Hanwha Aerospace provides howitzer technology, while Indra supplies the chassis and control systems.

With this order, the number of countries that have chosen the K9 self-propelled howitzer has increased to 11. Starting with Turkey's adoption in 2001, Norway, Estonia, and Australia are also operating it.

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