Deal for new submarines should provide big opportunities for Canadian subcontractors [Yahoo! Finance Canada]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance Canada
fleet of submarines, looking for a slice of the billions of dollars about to be put in play. The head of KPMG Management Consulting's aerospace and defence team in Canada said the submarine contract is down to two offshore bidders — Germany's ThyssenKrupp Marine Systems GmbH (TKMS) and South Korea's Hanwha Ocean Ltd. — but Canada's defence suppliers will also be in for a big boost. Canada is looking for an economic return for homegrown companies no matter which company it chooses to build a dozen subs over the next decade. Hanwha Ocean is floating various industrial-technological benefit collaborations that could involve investments in Canadian lithium-ion battery production, liquefied natural gas (LNG), aerospace, steel, critical mineral mining and sustainable energy. It has offered to construct submarine “sustainment” facilities on each of the east and west coasts and envisions a manufacturing facility in Canada to build tanks, rockets, howitzers and resupply vehicles. Gra
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News
- ThyssenKrupp (OTCMKTS:TKAMY) had its "buy" rating reaffirmed by analysts at Citigroup Inc..MarketBeat
- Germany's Thyssenkrupp steel finalizes tough restructuring plan [Yahoo! Finance]Yahoo! Finance
- Norwegian defence company pitches Ottawa as Arctic partner in sub procurement [Yahoo! Finance Canada]Yahoo! Finance Canada
- 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