Connect with us

Technology

Hanwha to Acquire Philly Shipyard

Published

on

Hanwha brings cutting-edge marine technology and shipbuilding expertise to Philadelphia

PHILADELPHIA, June 20, 2024 /PRNewswire/ — Hanwha Systems, a global leader in defense electronics and IT technologies, and Hanwha Ocean, one of the world’s leading shipbuilders, today announced the acquisition of Philly Shipyard, a leading U.S. shipbuilder that has delivered approximately half of the large U.S. Jones Act commercial ships in the United States since 2000. Hanwha Systems and Hanwha Ocean will together invest $100 million to acquire Philly Shipyard, in furtherance of their strategies to expand their global defense and shipbuilding activities.

Philly Shipyard is a public company controlled by Aker ASA, a Norwegian industrial investment company with ownership interests in energy, green technologies and marine biotechnology. Philly Shipyard produces vessels that are compliant with the Jones Act, a federal requirement that vessels used in domestic trade be built in U.S. shipyards. Established in 1997, Philly Shipyard supplies around 50% of the largest commercial vessels, including tankers and container ships. In addition, Philly Shipyard constructs training vessels for the U.S. Maritime Administration (MARAD).

“The opportunity to collaborate with Philly Shipyard, a significant shipbuilder with a storied history, is an exciting strategic opportunity that will allow Hanwha Systems to deploy its state-of-the-art naval systems and associated technologies in the U.S. market,” said CEO of Hanwha Systems, Charlie SC EOH.

Hyek-woong KWON, CEO of Hanwha Ocean, added “We look forward to leveraging our shipbuilding and manufacturing know-how in continuing the success of Philly Shipyard as it meets the expanding needs of the U.S. for decades to come.”

Hanwha Systems is one of the leading defense companies in Korea, developing technologies for unmanned maritime systems, naval radars and sensors for MUM-T (Manned and Unmanned Teaming) operation. With its cutting-edge marine technology, Hanwha Systems is eager to produce vessels in the commercial market and take advantage of opportunities in the unmanned underwater vehicles (UUVs), Smart Ship and unmanned surface vehicles (USV) markets. Hanwha Ocean, a world-class shipbuilder pioneering the global marine defense market, has a full suite of low-carbon, high-tech vessels ranging from ammonia and LNG carriers, to destroyers, submarines and frigates.

Hanwha Systems and Hanwha Ocean see this acquisition as part of a long-term investment strategy to bring best practices and leading technologies to complement existing Philly Shipyard capabilities.

“After two decades of stewardship, it is with great honour that we transition the ownership from Aker to Hanwha. Recognized as a global leader, Hanwha brings a wealth of sophisticated shipbuilding experience that will enable Philly Shipyard to realize a grander vision for its employees and customers. Reflecting on the past 17 years, I am personally grateful for the opportunity to have worked side by side the people of Philly Shipyard and eagerly anticipate witnessing the shipyard’s continued growth and success in the future,” said Kristian Røkke, Chairman of Philly Shipyard ASA.

About Hanwha Systems

Hanwha Systems is the representative company of the Republic of Korea ranging with world-class companies in various business areas based on avionics and space, security and safety, and information systems service. Hanwha Systems has Defense Division and ICT Division with customer value being the top priority.

About Hanwha Ocean

Hanwha Ocean is a globally renowned maritime and shipbuilding company with 50+ years of shipbuilding experience, including a wide range of naval ships that include submarines, warships other naval support vessels, as well as commercial vessels, such as LNG Carriers and Very Large Crude Oil Carriers. Hanwha Ocean’s Okpo shipyard is the second largest and one of the most efficient shipyards in the world.

Media Contacts
Debra DeShong, VP/Head of Corporate Communications
us.media@hanwha.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/hanwha-to-acquire-philly-shipyard-302178643.html

SOURCE Hanwha

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Nanalysis Announces Board Transition and Appointment of Three New Directors

Published

on

By

CALGARY, AB, May 1, 2026 /CNW/ – Nanalysis Scientific Corp. (the “Company”, TSXV: NSCI, FRA: 1N1), a leader in portable NMR spectrometers and MRI technology for industrial and research applications, is pleased to announce the appointment of Jonathan Ladd, Werner Maas, and Steve Feick to its Board of Directors effective May 1, 2026.

Mr. Ladd is an experienced technology executive and former Chief Executive Officer of NovAtel Inc., a Nasdaq-listed GPS technology company acquired by Hexagon AB. He has a track record of scaling global technology businesses and brings extensive experience in capital markets, corporate governance, and strategic execution within advanced technology companies. He currently serves on the following boards: Takemetoit Inc., AgriRobot, Litus Inc., and is an advisor at Tall Grass Ventures. Mr. Ladd earned a bachelor’s degree with distinction in engineering and is a member of Tau Beta Pi National Engineering Honor Society.

Dr. Maas is a senior executive in the analytical instrumentation sector, having previously served as President of Bruker BioSpin Corporation and currently serving as Chief Executive Officer of Hudson Lab Automation. He brings deep expertise in nuclear magnetic resonance (NMR) technologies, as well as global sales, marketing, and commercialization of scientific instrumentation. Dr. Maas holds a Ph.D. in Chemistry from Radboud University in The Netherlands, as well as several executive management designations from the MIT Sloan School of Management.

Mr. Feick is President of Manvest Inc., part of the Mancal Group. He has a track record of developing and growing a portfolio of investments in agriculture, finance, supply chain, infrastructure technology, energy efficiency, and data analytics. As a former entrepreneur, he ensures that his operational and investor experience elevates the growth of the portfolio. He is an experienced investor and brings expertise in capital allocation, governance, and long-term strategic planning across private and public market investments. Mr. Feick holds a Bachelor of Science degree in Chemical Engineering from Queen’s University.

In connection with these appointments, Martin Burian and Jennifer Stubbs will be stepping down from the Board of Directors, effective May 1, 2026. The Company thanks Mr. Burian and Ms. Stubbs for their contributions and service and wishes them continued success in their future endeavours.

“On behalf of the Board, I would like to thank Martin and Jennifer for their contributions to Nanalysis and dedicated service to the Company and wish them continued success in their future endeavours.” said Sean Krakiwsky, Chief Executive Officer. “We are pleased to welcome Jonathan, Werner, and Steve. Their collective experience across instrumentation, global commercialization, and capital allocation will support the Company as we focus on scaling our core NMR platform and executing on our services growth strategy.”

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)

Nanalysis Scientific Corp. develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers used worldwide in pharma, biotech, energy, food, materials, and security industries, as well as in academic and government labs. The Company also operates a growing services division that maintains both its own products and third-party imaging equipment, anchored by a $160 million long-term contract with the Canadian Air Transport Security Authority (CATSA) to maintain security scanners at more than 80 Canadian airports.

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nanalysis-announces-board-transition-and-appointment-of-three-new-directors-302759750.html

SOURCE Nanalysis Scientific Corp.

Continue Reading

Technology

PCIS Emerges as Leading Risk and Claims Provider in Mid-Atlantic with Three Major Wins

Published

on

By

SEPTA, City of Baltimore, and Maryland Department of Transportation MTA adopt ClaimsVISION to modernize risk and claims operations

NEW YORK, May 1, 2026 /PRNewswire-PRWeb/ — PCIS, a leading provider of Risk & Claims Management Information System (RMIS), today announced a series of new and expanded client engagements across the Mid-Atlantic region, further solidifying its position as a trusted partner for transit agencies and public sector organizations.

“The biggest barrier to innovation in the public sector isn’t a lack of tools—it’s the weight of legacy data environments that were never built for real-time intelligence. You can’t layer AI on top of fragmented, batch-driven systems and expect results.

The Southeastern Pennsylvania Transportation Authority (SEPTA) has selected PCIS ClaimsVISION RMIS to enhance its risk management capabilities and support more efficient claims oversight. The City of Baltimore has chosen ClaimsVISION Claims and RMIS to modernize its claims administration and enterprise risk management operations. In addition, the Maryland Department of Transportation Maryland Transit Administration (MDOT MTA) has entered into a new five-year agreement with PCIS, extending a long-standing partnership and continuing its use of the ClaimsVISION platform.

These engagements reflect a broader trend among public entities seeking modern, configurable platforms to improve visibility, streamline workflows, and strengthen compliance across increasingly complex risk environments.

“The biggest barrier to innovation in the public sector isn’t a lack of tools—it’s the weight of legacy data environments that were never built for real-time intelligence. You can’t layer AI on top of fragmented, batch-driven systems and expect results. Organizations like SEPTA and Baltimore are rethinking the foundation—moving toward continuous, streaming data models that actually enable AI to deliver value”, said Michael Loizou, CSO of PCIS.

Across these implementations, PCIS will deliver a unified platform designed to:

Centralize claims and risk data for improved decision-makingEnhance BI and intelligent analytics capabilitiesStreamline workflows and reduce manual processesSupport regulatory compliance and audit readinessEnable scalable, configurable solutions tailored to public sector needs

The continued expansion of PCIS within the Mid-Atlantic region underscores the company’s growing presence among transit agencies and public entities seeking proven, purpose-built risk and claims management solutions.

Media Contact

Helene Quinn, PCIS, 1 2124051625, hquinn@pcisvision.com, www.pcisvision.com

View original content to download multimedia:https://www.prweb.com/releases/pcis-emerges-as-leading-risk-and-claims-provider-in-mid-atlantic-with-three-major-wins-302759785.html

SOURCE PCIS

Continue Reading

Technology

Private Equity’s AI Moment: The Greatest Value Lever in Decades — and the Hardest to Pull

Published

on

By

The following article is authored by Neil Dhar, Senior Vice President, IBM Consulting Americas

ARMONK, N.Y., May 1, 2026 /PRNewswire/ — Next week at Think 2026, we’ll outline the forces shaping the Enterprise AI Race, forces that apply with particular urgency to private equity. The organizations gaining ground today are not the ones betting on a single model. They are the ones redesigning how their businesses operate, building hybrid architectures that give them control, and deploying AI in ways that orchestrate value that compounds over time. 

The private equity industry understands this better than most. The days of pilots and promises are over, and the demand for hard proof (a.k.a. ROI) has begun. Is your revenue accelerating? Can you drive efficiency and profitability at the same time? What does long-term growth look like? These are the questions sitting across the table at every board meeting and investment committee, and the pressure is only intensifying.  

This pressure has forced major PE firms to move aggressively to formalize their AI strategies, including exploring joint ventures with leading LLM companies. They’re making a calculated bet on AI as the most powerful value‑creation lever the industry has seen in its history, and they recognize that the window to move is now. 

The logic is unmistakable. PE firms don’t run single businesses, they run portfolios. Which means AI playbooks that work don’t just transform one company; they compound across ten, twenty, fifty, hundreds. A workflow reinvented once becomes a repeatable asset. A governance framework built once becomes portfolio infrastructure. That multiplier effect is native to how PE creates value, and it’s what makes the intersection of private equity and enterprise AI one of the most consequential arenas in business right now. 

The bet is a no-brainer. Execution is where it gets hard.  

Here’s what we know to be true: competitive advantage won’t come from betting on a single LLM. It will come from building AI tailored to your business, shifting to a hybrid strategy that combines custom models, foundation models, and smaller specialized models, all grounded in an architecture that connects your data, your workflows, and your intelligence. In private equity, where the same playbook has to work across an entire portfolio, that distinction isn’t academic. It’s the difference between value that compounds and value that stalls. 

We know this because we lived it. We turned our own operations into the proving ground, analyzing nearly 400 operational workflows and deploying AI solutions across more than 100 so far, coupled with AI governance and enablement.

The result was $4.5B in productivity gains from AI, hybrid cloud, automation and consulting expertise, and proof of what works.

We then took that proof and productized those validated workflows into IBM Enterprise Advantage, a first-of-its-kind asset-based consulting service that enables clients to build and operate their own tailored internal AI platform at scale.

With digital workers, prebuilt tools, and native governance, clients have a headstart rather than a blank slate. And because it’s multi-model, they retain the freedom to shift as technology evolves. For private equity, that flexibility determines whether a company is an asset or a liability at exit. 

We’re bringing this same approach to private equity-backed companies, where the defining question is what changed and can you prove it.

A major U.S. telecommunications provider is deploying digital workers and prebuilt AI tools from Enterprise Advantage to accelerate the migration of more than 150 critical applications, delivering measurable savings within two quarters.Working with a leading insurance administrator, IBM is using agentic AI to overhaul end-to-end claims processing, a function where a single claim can involve dozens of tightly regulated steps across multiple systems. AI agents now read and structure claim documents, perform compliance checks, assess eligibility, and route cases automatically, resulting in faster cycle times, fewer bottlenecks, and an operating model built to scale. 

What private equity does here will ripple far beyond its own portfolios. When PE-backed companies deploy production-ready AI across the business, they reset competitive expectations for entire industries, forcing every competitor to respond. That is the Enterprise AI Race playing out in real time.

The choices made today will define portfolio performance for the next decade. Move too slowly and you’re handing the advantage to every competitor who didn’t. Move without discipline and you’re betting the portfolio on a foundation that hasn’t been proven. The firms that win will be the ones who understood that distinction early enough to do something about it.

About IBM 

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Media contact: 

IBM
Lily O’Brien
lilyobrien@ibm.com

SOURCE IBM

Continue Reading

Trending