Hanwha Breaking Up Techwin

Author: Brian Karas, Published on May 02, 2017

Hanwha is breaking up Techwin, spinning off multiple business units in order to concentrate on what the company says will be its two main areas of focus: aircraft engines, and security products.

Hanwha Techwin security group says they are bullish about this move and that it will help them to thrive and grow.

In this note, we share feedback from Hanwha Techwin, examine the move and its potential.

****** ** ******** ** *******, ******** *** ******** ******** ***** in ***** ** *********** ** **** *** ******* **** **** be *** *** **** ***** ** *****: ******** *******, *** security ********.

****** ******* ******** ***** **** **** *** ******* ***** **** move *** **** ** **** **** **** ** ****** *** grow.

** **** ****, ** ***** ******** **** ****** *******, ******* the **** *** *** *********.

[***************]

Hanwha ***** / ****** ******* ********

************ ***** **** ***,*******, ****** *********, *** ********** ********* **** ****** ************ ** Hanwha *******, ****** * ********** ** ****** *****,***** *** ********** ******** ***** ** *******/*********, *********, *** ************, among ******. ********** **** ****** ********** ** ****, *** ** Korean ********** ******** **** *******, ***** **** **** ** ***** done ** ***** **** ******** **** ** ** **** ********* and *******.

***** ******** *** ******** *** ********** ** **** *, ****, at ***** **** *** ****** ******* ****** ******* **** ** left **** * ******** ****** ******** *******, *** *** ******** division (****** ******* ***** ** **** ***** **** **** ** robotics ******** ** ****).

Aircraft ******* ** ** ******* *****

* ****** **** **** ******** *** ************** **** ****** ******* "**** *********** ** *** ******** ****** ******** ***** *** *****".

Security **** ***

**** **** **** **** ** ** ***** ** ********* ****** Techwin ******** ** ******* "********** ** ******* * **** ** ***** *** **** *** security ******** *****, *** **** ***** *** ****** *** **** soon." ****** ******* ********* ** **** **** **** ** ***** considered.

* ******** **** ****-*** *** *** ********* ** ** *** best ******* ** ** ****** ******** ** ***** ** ******** and *** ** *********** ** ***** ********* ********** (**** ******** engines).

Hanwha ******** ******** ********** / $*** ******* **********

****** ******* **** **** **** **** *** ********** ********* ** grow *** ******** ********. ******'* $**** ******* ************* ********* *** provided ** ** ******* ** *** *******'* ********** ** ********, though ******** ***** ** *** ******** ** ** ********* ***** ****, and **** ** * $*** ******* **********. **** ******** **** **** * ********** ******** ** * million *****, ********** ****** *******'* ***** ***** ************ ******** ** 8 ******* *****. ** **********, ****** **** **** **** **** will **** **** ****** **** *** **** ******* ***** ****** and **** ******* ********** **** ** ** *********** ** *****, from * **** ***********.

Security ******** *******

** *** ******** ****, ******** *** *** *******, ****** *** industrial ********* ***** **** ****** ******* ******* *** ********** *** spread ** ********* **** *** ********* ********. ** *** ******** side, *** *********** ** ******** ******* *** ******** ******** ** still *** *************.

*******, **** **** ***** **** ****** ** ******* ***** ******* their ******* ********** **** *******, ***** ** * **** *****. And ** * ****** ******* ******** **** ****-*** ***** *****, this ***** ** ********* ******** *** ***** *****.

*** *** ***** *** ******* *****, *** ****** ******* ******* is ***** ******* ******* ********** ** ****** / ****** ** *** '*******' ******** *** *** **** ***** ****** ***. *** ******* ** the****** ******* * ******, ***** ****** ****, ****** **** ** ****** *** ***** ****** ********.

** ** **** ** ** ******* **** *** ******* **** be *** ****** *** ********* ****** ******** ** ******* **** other ********* ****** ********* **** *** *** *** ******* ******** division *******.

Comments (8)

John Honovich

IPVM | 05/02/17 02:21pm

***, *** **** - ****** **** **.*% ** ******* *** controls *******.

*** ******* ********** '****' **** **% ** ********* ***, ***, they ******* *********.

Undisclosed #1

In reply to John Honovich | 05/02/17 02:38pm

...****** **** **.*% ** ******* *** ******** *******.

***'* ********** **********...

John Honovich

IPVM | In reply to Undisclosed #1 | 05/02/17 02:43pm

**** *** ******* *** ******. ****** ********** ****** ** *** hedge **** **** ****** * ******** (~**%) ** **** ***** ~2 ***** *** **** ***** ******** ****. ** **** ****, Canon '****' *** **% ** *** ******.

***** ********** '****' **** *** **** *** *** **** ******** delisted **** *** ***** ******** ***, ** * ******* ** the ********, **** ********** *** ***** ******.

Undisclosed #1

In reply to John Honovich | 05/02/17 03:10pm

**** ******** ***** ***** *******'* ****** *****,******* ** ***** ***** ** ******** ***** ****

Undisclosed Manufacturer #3

In reply to John Honovich | 05/03/17 12:36pm

****** ****, *******/*** *** ****** ** ****** ***** ******, **'* common **** * ***** *********** **** ***** **~**%.

John Honovich

IPVM | In reply to Undisclosed Manufacturer #3 | 05/03/17 12:51pm

****** ****, *******/*** *** ****** ** ****** ***** ******

**** *** *** ** ****** ** * ****** ***** ****** (********* ****:** ***** ****).

Undisclosed Integrator #2

05/02/17 08:36pm

******** ******** **** *** ** **** *** ******* **** *** to *** ********* ****. ** *** ******** ******** **** ****** its *** ******, ** **** *** ** **** ** ****** all *** **** ** ********* *** **** *** **** ***** the ***** *** **** *** *** *** ********** **** ** comeing *** **** ******** ******** ** ***** ** ******** *** AI, ********** ****** **** ** ***** ** ***** ***** ** the ********** *****.

John Honovich

IPVM | 05/02/17 10:08pm

** **** ** **** *** *** ******** ********, *** * recommend ******** *** ******* **** *** ***** **** ****** *******.

** ******, *** **** ***** ** ******** *** ****** **** as **** *** * ***'* ***** ****'* ** ******.

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