Hanwha and WB Group sign term sheet agreement for guided missile joint venture in Poland
The agreement will contribute to the growth of Polish industrial capability and aims to expand to broader European market
WB Group Chairman Piotr Wojciechowski and Head of Hanwha Aerospace PGM Business Group Billy Boo-hwan Lee signing the term sheet agreement
Hanwha Aerospace has signed a term sheet agreement to establish a joint venture with WB Group, Poland's largest private defense company, to manufacture guided missiles in Poland for the Homar-K multiple launch rocket system (MLRS). This agreement marks a key milestone in Hanwha's localization strategy and reinforces its long-term commitment to Poland's defense modernization and industrial development, advancing Hanwha's role as a strategic partner for NATO and EU member states.
“The latest joint venture agreement with WB Group is a significant milestone for Hanwha’s continued expansion in the global defense market,” said Michael Coulter, President and CEO of Hanwha Global Defense. “It also represents Hanwha’s strong commitment to delivering a technological edge and sovereign, domestic capacity to our global customers.”
The collaboration will consist of Hanwha Aerospace holding a 51% majority stake in the new entity and WB Electronics — a WB Group subsidiary — holding the remaining 49%. Following approval from Poland’s Antimonopoly Committee, the joint venture is set to begin operations.
“With this term sheet agreement, we have just taken the most important step toward establishing our joint venture with WB Group. We believe the joint venture will contribute to the growth of Polish industrial capability, as well as to the modernization of the Polish Armed Forces,” said Billy Boo-hwan Lee, Head of Hanwha Aerospace PGM Business Group. “Thanks to this endeavor, our industries will also gain the opportunity to jointly enter new European markets with competitive, combat-proven missile technologies.”
“The term sheet shows a clear roadmap for building a missile production site in Poland. The cooperation between WB Electronics and Hanwha Aerospace is a demonstration of how the Polish and Korean industries can work together and how each company complements the other,” said Piotr Wojciechowski, Chairman of WB Group. “The factory will increase Poland's independence in ammunition production and provide huge potential for industrial and economic growth.”
Together, Hanwha Aerospace and WB Group will fulfill the requirements for producing 80 km-range CGR-80 guided missiles for the Homar-K, which is the K239 Chunmoo MLRS developed by Hanwha Aerospace under another executive contract and adapted to the Polish market. It is also focused on jointly marketing the missiles to neighboring countries in Europe.
The Homar-K program exemplifies Hanwha's successful localization efforts in Poland, which feature extensive Polish defense industry participation.
Hanwha Aerospace
Founded in 1977 in South Korea, Hanwha Aerospace is a trusted global provider of transformative solutions that now extend beyond aerospace to the defense and marine sectors. With an unwavering focus on customer-centric quality management, continued innovation, and product competitiveness reinforced by advanced technologies, Hanwha Aerospace is surging forward as a world-class leader in the burgeoning space and aerospace businesses, as well as in the land, sea, and air defense industries.
For more information, visit: www.hanwhaaerospace.com/eng
Related Content
Get the latest news about Hanwha, right in your inbox.
Fields marked with * are mandatory.
- Non-employee
- Employee