South Korea’s HD Hyundai Heavy Industries and U.S. defense contractor Huntington Ingalls Industries (NYSE: HII) have signed an agreement to collaborate on building auxiliary vessels for the U.S. Navy.
The memorandum of agreement was signed in Gyeongju, South Korea, marking a significant step in the partnership between the two companies.
This collaboration aims to leverage the strengths of both firms to support the U.S. Navy’s auxiliary fleet requirements. Further details of the project and timeline are expected to be announced in the coming months.
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