Hanwha Systems (KRX:272210) secured a Cheonma performance-based logistics (PBL) deal with South Korean arms procurement agency Defense Acquisition Program Administration (DAPA), valued at 204.6 billion won, the company said in a Tuesday release with KIND.
Hanwha Systems will provide maintenance, repair and overhaul (MRO) services for the Cheonma, which is a short-range surface-to-air weapon on Army armored vehicles, Yonhap News reported the same day.
Shares of the aerospace and defense company fell nearly 2% in recent trade on Wednesday.
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