South Korean submarine maker Hanwha signs agreement with Algoma Steel [Globe and Mail, The (Toronto, Canada)]
Algoma Steel Group Inc. (ASTL)
Company Research
Source: Globe and Mail, The
and Hahnwa Group Vice-Chairman Kim Dong Kwan speak after touring a submarine at the Hanwha Ocean Shipyard in Geoje Island, South Korea, on Oct. 30, 2025. Adrian Wyld/The Canadian Press Hanwha says it signed a memorandum of understanding with Algoma that pledges $275-million in financial support to stand up a new structural steel beam mill in Canada. Both commitments come on the condition that Hanwha wins Ottawa's massive, multi-billion-dollar procurement contract to supply the Royal Canadian Navy with up to 12 modern submarines. Canada's submarine choice could break tradition, embrace South Korea in Indo-Pacific shift Hanwha also signed co-operation agreements on Monday with Telesat, MDA Space, Cohere and PV Labs, all while a South Korean delegation of government and business officials visited Toronto. Rival German bidder TKMS has also signed teaming agreements with Canadian companies, such as Quebec manufacturer Marmen and the artificial intelligence company Cohere. Ticke
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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