Algoma Steel and Hanwha Ocean Sign Binding Memorandum of Understanding (MOU) for Long-term Strategic Arrangement supporting Canadian Patrol Submarine Project
Algoma Steel Group Inc. (ASTL)
Company Research
Source: GlobeNewswire
Algoma Steel and Hanwha Ocean align to underpin Canada’s future submarine program with Canadian steelmaking capability and Canadian workers, supporting long-term naval readiness and industrial sovereigntyHanwha Ocean to provide Algoma with up to USD $250 million (approx. CAD $345 million) as support for advancing Algoma’s diversification strategy and domestic supply for Canadian defense procurement SAULT STE. MARIE, Ontario, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that its wholly owned subsidiary, Algoma Steel Inc., has entered into a binding memorandum of understanding with Hanwha Ocean Co., Ltd.. Canada’s future submarine program could soon be supported by Canadian steel, Canadian workers, and Canadian industrial expertise under a new long-term strategic arrangement. The two companies have entered into a bindi
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ASTL
News
- Hanwha plans to dock submarine off B.C. Coast in move to win lucrative federal contract [BNN Bloomberg (Canada)]BNN Bloomberg
- Should Algoma Steel's Potential US$250 Million Submarine Beam Mill Deal Require Action From Algoma Steel Group (ASTL) Investors? [Yahoo! Finance]Yahoo! Finance
- TKMS signs agreement with Seaspan on submarine sustainment [BNN Bloomberg (Canada)]BNN Bloomberg
- TKMS signs agreement with Seaspan on submarine sustainment [Yahoo! Finance Canada]Yahoo! Finance Canada
- LIVE UPDATES: ‘Relations are good' with the U.S., Carney says [BNN Bloomberg (Canada)]BNN Bloomberg
ASTL
Earnings
- 10/29/25 - Miss
ASTL
Sec Filings
- 1/27/26 - Form 6-K
- 1/9/26 - Form 6-K
- 12/2/25 - Form 6-K
- ASTL's page on the SEC website