TKMS signs agreement with Seaspan on submarine sustainment [Yahoo! Finance Canada]
Algoma Steel Group Inc. (ASTL)
Company Research
Source: Yahoo! Finance Canada
The pact is conditional on TKMS winning a federal government contract to supply the Royal Canadian Navy with a fleet of new submarines. Seaspan is involved with maintaining Canada's current fleet of four Victoria class submarines, which the federal government needs to replace within the next 10 years. A news release says the teaming agreement also opens up the potential for future "export support," which could mean servicing or building vessels for other countries on the West Coast, or helping businesses enter other markets. Both of the finalist bidders — TKMS and South Korean firm Hanwha Oceans — have signed a flurry of agreements with Canadian companies as the competition heats up for a lucrative, multi-billion dollar contract to supply Canada with up to 12 new submarines. Hanwha announced on Monday it signed a string of partnership agreements with Canadian companies, including Sault Ste. Marie's Algoma Steel and a number of Canadian space satellite companies. This report
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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
- LIVE UPDATES: ‘Relations are good' with the U.S., Carney says [BNN Bloomberg (Canada)]BNN Bloomberg
- South Korean submarine maker Hanwha signs agreement with Algoma Steel [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
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