Strategic MOU advances industrial capability and technology transfer in Ontario; trilateral LOI establishes an embedded shipbuilding workforce development and innovation hub

HAMILTON, ON, Feb. 19, 2026 /PRNewswire/ -- Hanwha Ocean and Ontario Shipyards have signed a strategic Memorandum of Understanding (MOU) to accelerate the return of large-scale shipbuilding in Ontario and to strengthen Canada's ability to deliver future naval programs.

Key representatives pose for a commemorative photo following the Hanwha Ocean–Ontario Shipyards MOU signing and the trilateral LOI ceremony with Mohawk College. Front row, from left: Mohawk College President Paul Armstrong, Hanwha Ocean CEO Kim Hee-cheul, and Ontario Shipyards CEO Shaun Padulo, joined by Canadian Members of Parliament and other local officials after the signing ceremonies.

In parallel, Hanwha Ocean, Ontario Shipyards and Mohawk College have entered into a Letter of Intent (LOI) to establish an embedded shipbuilding training hub at Ontario Shipyards' Hamilton facility, aligned with the sector's long-term workforce requirements.

Together, the agreements establish a coordinated industrial and workforce development framework intended to position Ontario as a scalable centre of excellence for defence-related shipbuilding and advanced marine manufacturing in the Great Lakes region.

Memorandum of Understanding

Hanwha Ocean and Ontario Shipyards

Under the bilateral MOU, Hanwha Ocean will provide structured technical and operational support to Ontario Shipyards to strengthen production readiness and shipyard performance.

The cooperation will focus on:

• design and engineering
• production planning and construction sequencing
• quality management systems
• advanced shipyard processes and smart-yard best practices

These measures are intended to accelerate the re-establishment of large-scale vessel construction capability in Ontario, enhance production efficiency, and support long-term naval industrial readiness.

As part of this cooperation, Hanwha Ocean will provide support to the design and construction for a Training and Recruitment vessel that Ontario Shipyards will begin building in 2026, serving as a practical demonstration of next-generation shipbuilding capability in the province.

Subject to the award of the Canadian Patrol Submarine Project (CPSP), Hanwha Ocean intends to pursue further strategic investment in Ontario, including the establishment of a dedicated shipbuilding training centre and expanded industrial cooperation with Ontario-based suppliers.

Letter of Intent

Hanwha Ocean, Ontario Shipyards and Mohawk College

The trilateral LOI establishes a structured pathway to address persistent shortages in skilled trades and technical professionals critical to shipbuilding.

The collaboration will focus on:

• establishing an integrated training hub embedded within Ontario Shipyards' Hamilton Shipyard
• developing industry-led credentials and specialized shipbuilding certifications
• supporting apprenticeship and co-op pathways aligned with production requirements
• exploring applied research in automation, robotics ad digital manufacturing

Under this framework:

• Mohawk College will lead academic programming across skilled trades and technology disciplines including welding, electrical, millwright, marine mechanics, robotics, logistics, and non-destructive evaluation..
• Ontario Shipyards will provide facilities and direct workforce integration aligned with its production and expansion plans.
• Hanwha Ocean will contribute technical advisory support and access to its global industrial networks to align training with international standards and operational best practices.

Strengthening Ontario's Role in Canada's Marine Defence Ecosystem

By integrating industrial modernization with structured workforce development, the partnership aligns with Ontario's advanced manufacturing strategy and Canada's broader objective to strengthen sovereign defence industrial capability.

The coordinated framework is expected to:

• generate and sustain high-quality skilled employment
• expand Ontario-based marine and defence supply chains
• increase participation of regional small and medium-sized enterprises
• strengthen Canada's domestic capacity to construct, maintain and sustain complex naval platforms

Over the long term, the initiative is designed to position the Golden Horseshoe and the broader Great Lakes region as a nationally significant hub for advanced marine manufacturing and shipbuilding.

Quotes

Kim Hee-cheul, President and CEO, Hanwha Ocean
"Our objective is not simply to transfer expertise, but to embed Hanwha Ocean's advanced shipbuilding processes and operational know-how directly into Ontario Shipyard operations. By doing so, we are strengthening Canada's domestic industrial base, supporting high-quality Canadian jobs, and ensuring long-term workforce readiness. This partnership reflects our commitment to building sustainable submarine construction and sustainment capacity in Canada, fully aligned with the objectives of the Canadian Patrol Submarine Project."

Shaun Padulo, President and CEO, Ontario Shipyards
"At its core, this partnership is about people. With Hanwha Ocean working alongside our teams and Mohawk College training the next generation in a live shipyard, we are building the Canadian workforce that will deliver and sustain Canadian ships for decades to come. That is how sovereign capacity is created. This partnership activates Ontario's industrial strength in direct support of the National Shipbuilding Strategy and the future of the Royal Canadian Navy and creates meaningful long-term careers for Canadians.

Paul Armstrong, President, Mohawk College
"Mohawk College believes in the strength and power of industry-led learning. By working alongside Hanwha Ocean and Ontario Shipyards, we are creating an environment where expertise, innovation, and education come together to support workforce development. This collaboration will strengthen advanced manufacturing and shipbuilding capability in Canada and help build the skilled talent required for long-term success in a rapidly evolving marine sector."

Source: Hanwha Ocean Related Stocks: Korea:042660