.jpg)
4 hours ago
1
Article content
(Bloomberg) — Germany and Norway’s defense ministers are meeting their Canadian counterpart Monday to push for Thyssenkrupp Marine Systems to win a multibillion-dollar submarine contract.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Boris Pistorius and Tore Sandvik are accompanied by the chief executive officer of TKMS as Canada weighs joining a German-Norwegian submarine partnership. It would involve the procurement of the shipbuilder’s U212CD submarines, six of which Germany is expected to receive by 2037.
Article content
Article content
Article content
TKMS was just spun off from parent company Thyssenkrupp AG and held its initial public offering in Frankfurt on Monday, where CEO Oliver Burkhard told attendees he’s traveling to Ottawa with Pistorius to discuss the potential submarine order.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The German minister will also visit Lockheed Martin Canada on Tuesday. The defense company did not immediately respond to a request for comment.
Article content
Canadian Prime Minister Mark Carney announced in August that TKMS and South Korea’s Hanwha Ocean Co. were the two finalists for the contract to supply Canada with as many as 12 conventionally powered vessels that are capable of operating under ice.
Article content
Carney visited the TKMS facility in Kiel, Germany, in August and plans to tour Hanwha’s operation next week while in Korea for the Asia-Pacific Economic Cooperation summit. The government intends to make a decision within the next year, and is looking for industrial benefits to Canada.
Article content
Canada is becoming increasingly important for Germany as a transatlantic ally, as the US pulls back from traditional partnerships with Europe. Canada, in turn, wants its industry to benefit from a booming European market.
Article content
Article content
Germany, Norway and Canada entered into a maritime security partnership in 2024, with Denmark also joining this year. The countries want to jointly protect critical underwater infrastructure and strengthen their anti-submarine warfare capabilities.
Article content
Canada also forged a security partnership with the European Union in June, which moves the country closer to being able to access the EU’s SAFE defense procurement financing mechanism if it partners with at least one EU member state.
Article content
As German defense firms face a supply crunch due to Chinese rare-earths export restrictions, Pistorius is scheduled to meet Canada’s Natural Resources Minister Tim Hodgson. Canada and Germany pledged closer cooperation on critical minerals in August and discussed the potential for the North American nation to ship liquefied natural gas to European customers.
Article content
Pistorius is currently traveling in the northern Atlantic. He visited Iceland on Sunday, where he signed a letter of intent with Foreign Minister Þorgerður Katrín Gunnarsdóttir to increase military cooperation between the two countries, including the possible future deployment of German P-8A Poseidon naval reconnaissance airplanes on the island.
Article content
—With assistance from Arno Schütze.
Article content
English (US)