Canada picks Germany’s TKMS over Hanwha Ocean for submarine project

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Canada has selected German shipbuilder Thyssenkrupp Marine Systems as the preferred bidder for its multibillion-dollar next-generation submarine project, dealing a setback to South Korea’s Hanwha Ocean in one of the world’s most closely watched naval procurement contests. Canadian Prime Minister Mark Carney made the announcement Monday at a naval base in Halifax, Nova Scotia, before traveling to Turkey for a NATO summit, where allied defense spending and industrial cooperation are expected to be

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