Navy commander says Canada could end up with subs from two different suppliers [Yahoo! Finance Canada]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance Canada
Topshee also says the simplest solution would be to operate 12 submarines from just one supplier, which would ensure all the parts and weapons systems are the same. Topshee did not express a preference either way in a recent interview with The Canadian Press, saying it's ultimately up to the federal government to decide. Some defence experts warn that splitting the contract between two bidders would introduce complications for the navy and likely would eliminate any domestic industrial benefits that could come from a single contract. Ottawa has narrowed the field from five down to two finalists: South Korea's Hanwha and Germany's ThyssenKrupp Marine Systems. Canada is in a race against time to replace its four aging Victoria-class submarines, which are expected to retire from service by 2035. This report by The Canadian Press was first published Sept. 23, 2025. Kyle Duggan, The Canadian Press
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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