Hanwha Aerospace signs deal to export K9 howitzers to Spain

Korean defense company Hanwha Aerospace said Monday it has signed a deal with Spanish defense firm Indra Sistemas S.A. to export K9 self-propelled howitzers. In a regulatory filing, Hanwha Aerospace said it signed the contract with Indra without disclosing the contract value or delivery schedule, citing confidentiality. Under the contract, Hanwha Aerospace will receive an initial payment equivalent to 20 percent of the contract value after signing, followed by another 5 percent by the end of the year. The deal marks the first entry of Hanwha Aerospace's K9 into the Western European market, which would bring the number of countries operating the self-propelled howitzer to 11.