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Stock impact report

Canadian submarine procurement urgent as current shortcomings ‘well known,' says navy commander [BNN Bloomberg (Canada)]

THYSSENKRUPP AG S/ADR (TKAMY) 
NASDAQ:AMEX Investor Relations: thyssenkrupp.com/en/investors
Company Research Source: BNN Bloomberg
Behind him is HMCS Corner Brook, one of Canada's four aging diesel-electric submarines, sitting in drydock as an overhead crane lifts its guts aloft and onto the pavement. The Department of National Defence estimates there are nearly 300 submarines capable of operating in the Pacific Ocean at any one time, constituting the largest concentration of military submersibles anywhere in the world. Yet in 2026, it's unlikely that any of those submarines will be Canadian. While the Corner Brook undergoes maintenance, its sister vessel in the west, HMCS Chicoutimi, has been relegated to a training platform for the foreseeable future. Canada purchased four second-hand submarines from Britain in 1998. The initial $750 million purchase price for the vessels is a fraction of the billions of dollars the federal government has since spent on maintaining them. Ottawa now plans to acquire a fleet of up to 12 new submarines for the Royal Canadian Navy and has narrowed the competition to two su Show less Read more
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