Canada has selected Thyssenkrupp Marine Systems as the top supplier to build its new submarine fleet. The Canadian Patrol Submarine Project is the most costly defense procurement in its history.
Industry sources say the award to TKMS spotlights Germany’s growing role in NATO. South Korean bidders missed out after Hyundai Heavy Industries and Hanwha Oceanic units refused to partner with TKMS. German officials noted the contract will strengthen NATO ties and increase domestic shipbuilding output.