Hana Aero Dynamics, a manufacturer of precision parts for space and aviation, said on the 2nd it received preliminary approval for KOSDAQ listing review from the Korea Exchange (KRX) and will begin its initial public offering (IPO) process in earnest. The lead underwriter is IBK Securities.
Founded in 1990, Hana Aero Dynamics focuses on machining aerospace parts and assembling structures using superalloy materials such as aluminum and titanium. It has one-stop manufacturing capabilities that cover everything from design and production of aircraft jigs and tools to precision machining and final assembly of helicopter fuselages. Its production facility is in the Sacheon General Industrial Complex in South Gyeongsang Province. Aircraft jigs and tools are key devices that hold major structures such as the fuselage and wings in place to prevent movement during assembly and enable bolting and other processes.
Hana Aero Dynamics is a tier-one partner of Bell Textron, a global rotorcraft specialist, and the only company in Korea with a track record of full assembly of the Bell 412 and direct export of fuselages. It is also working with Korea Aerospace Industries (KAI) to produce and supply external boarding aid jigs related to the KF-21 supersonic fighter, expanding its orders in the defense sector.
On Apr. , it signed a 10-year long-term strategic partnership and exclusive distribution agreement for North America with Sphere Corporation, a global aerospace supply chain management (SCM) company, running through 2036. Through this, it expanded into precision parts for space launch vehicles and satellites, and is diversifying its revenue base by securing global customers such as Incora, Israel Aerospace Industries (IAI), and Japan's Subaru.
Hana Aero Dynamics posted 33.2 billion won in revenue and 2.4 billion won in net profit last year. Revenue consists of 39.52% aircraft jigs and tools, 37.41% aircraft assembly, and 22.45% aircraft parts. At the 62nd Trade Day, it received the "$7 million Export Tower."
Funds raised through the listing will be used to build production infrastructure and invest in new equipment within the aerospace national industrial complex in Jinju, South Gyeongsang Province. The company has secured land in the national industrial complex and moved into the investment execution phase, with plans to advance its superalloy machining capabilities and respond to growing demand from global OEMs.
Son Chang-hwan, CEO of Hana Aero Dynamics, said, "With the KOSDAQ listing as a catalyst, we will carry out investments in production infrastructure at the Jinju national industrial complex without a hitch and leap forward as a high-precision integrated solutions company spanning K-defense and the global space and aviation markets."