TKMS, Hanwha Top Bidders as Canada Set to Spend Billions on Subs

Canada is set to spend billions on new submarines, and two major shipbuilding companies have emerged as top bidders for the contract. According to the news article, German shipbuilder Thyssenkrupp Marine Systems (TKMS) and South Korean conglomerate Hanwha are the leading contenders for the lucrative submarine deal. Canadian Prime Minister Mark Carney is scheduled to visit TKMS, indicating the government's interest in the German firm's capabilities. The submarine procurement is part of Canada's broader efforts to bolster its defense capabilities, with the country ramping up defense spending in recent years. The article does not provide specific details on the timeline or the value of the contract, but it highlights the intense competition between international players vying for the opportunity to supply Canada with new submarines. The outcome of this bidding process will have significant implications for the country's naval capabilities and the global shipbuilding industry.