Canada weighing direct contract with foreign governments for sub purchase, head of navy says [Globe and Mail, The (Toronto, Canada)]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Globe and Mail, The
Canada has narrowed down its hunt for a new fleet of submarines to two suppliers. DARRYL DYCK/The Canadian Press Ottawa is weighing contracting directly with the South Korean or German and Norwegian governments instead of manufacturers in its coming purchase of a fleet of submarines, the commander of Canada's navy said. The federal government recently announced it has narrowed its hunt for up to 12 submarines down to two suppliers : South Korea's Hanwha or a German-Norwegian project with manufacturer ThyssenKrupp Marine Systems (TKMS) in Germany. Vice-Admiral Angus Topshee, commander of the Royal Canadian Navy, said Ottawa is exploring the benefits that could come from purchasing the subs through a “strategic partnership” with foreign governments. Canada's submarine choice could break tradition, embrace South Korea in Indo-Pacific shift In an interview, he pointed to Norway's recent decision to buy frigates from Britain's BAE Systems that is being undertaken through a top-le
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News
- ThyssenKrupp (OTCMKTS:TKAMY) had its "buy" rating reaffirmed by analysts at Citigroup Inc..MarketBeat
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- ThyssenKrupp (OTCMKTS:TKAMY) was upgraded by analysts at Zacks Research to a "hold" rating.MarketBeat
- Where is the money to replace Canada's aging submarines? It wasn't in the 2025 federal budget [BNN Bloomberg (Canada)]BNN Bloomberg