Export opportunities have opened up for steel manufacturer Bisalloy Steels with the signing of a MoU with Korean defence contractor Hanwha Defense.
The companies will join forces to build armoured combat vehicles and self-propelled howitzers for international markets, including for a recently-executed contract with Egypt.
Under the agreement, Hanwha Defense will procure Bisalloy steel for land platforms such as the Redback Infantry Fighting Vehicle (IFV, pictured) and the K9 Self-Propelled Howitzer, for export to international markets beyond Australia.
Bisalloy Steel is one of the Australian Industrial Capability (AIC) partner firms for Hanwha Defense Australia, which is participating in the federal government’s LAND 400 Phase 3 program with the Redback IFV.
Both companies will also conduct joint technical analysis and development of integration of Bisalloy steel into the Redback and K9 for exports to Europe and others.
Bisalloy managing director Michael Gundy said: “We’re pleased to work closely with Hanwha Defense and enter its global supply chain.
“Bisalloy steels capability has been proven over its 40-year of history, and through working together we believe we will contribute to Hanwha’s product portfolio and its international business.”
Armoured steels are a crucial component of army systems, while demand for establishing secondary supply chain in critical materials is forecast to accelerate due to the pandemic and increasing security threats.
Hanwha Defense CEO Son Jae-il said: “We are very excited to expand cooperation with Bisalloy Steels for international markets, as we have been delighted with Bisalloy steel’s proven quality through the performance of the Redback IFV.
“We will explore ways to use Bisalloy steel further for the K9 Self-Propelled Howitzer, as well as the Redback IFV.
“Upon the recent contract with Egypt over the K9, in particular, we will review ways to utilize the Australian steel for the K9A1EGY (Egyptian) project first.”
Hanwha Defense signed a $1.6 billion contract on February 1 with the Egyptian Ministry of Defense to jointly produce the K9 and other support vehicles.
Picture: Hanwha Defense
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