Canada Submarine Deal
Canada picks TKMS to build 12 submarines as it boosts NATO spending.
Summary
Canada selected Germany’s ThyssenKrupp Marine Systems as the preferred supplier to build up to 12 new submarines, a procurement Prime Minister Mark Carney called the largest in Canadian military history. TKMS made its bid with NATO ally Norway and beat South Korea’s Hanwha Ocean for the contract to replace Canada’s aging secondhand submarine fleet. Carney announced the decision Monday at HMC Dockyard in Halifax before heading to a NATO summit. The purchase is part of Ottawa’s push to raise defense spending and expand undersea patrol capacity.
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