Hanwha to implement major restructuring, expand nitric acid plant, etc. (South Korea)

Hanwha Group is undergoing organizational restructuring in order to "select and concentrate" its businesses. Hanwha is managing its construction division's offshore wind power business and its global division's plant business through major shipbuilding company Hanwha Ausci.
402.5 billion won (approximately 45,235,880,000 yen). The Momentum Division, which produces equipment for manufacturing secondary batteries, will be physically split into a wholly owned subsidiary, and at the same time
The company decided to transfer the company to Hanwha Solution, which produces electrical equipment, for 37 billion won (approximately 4,159,550,000 yen). With this organizational reorganization, Hanwha will increase the business expertise of each group company.
The idea is to increase the Furthermore, major defense giant Hanwha Aerospace has revealed that it is considering splitting its workforce in order to increase stock value and management efficiency. In the industry, the company is involved in defense and aviation.
It is expected that other businesses, excluding core businesses such as aerospace, will be separated and combined into a new business. Hanwha will receive cash from this business transfer of 439.5 billion won (approximately 49.3 billion won).
73.27 million yen). The company plans to invest this in its nitric acid business. Prior to this, in 2021, the annual production scale of the nitric acid production plant will be increased from the current 120,000 tons to 520,000 tons by 2023.
The project has been delayed slightly and is now scheduled for completion in June of this year.