Europe
Defence procurement
Canada picks Germany's ThyssenKrupp to build up to 12 submarines
Prime Minister Mark Carney has named Germany's ThyssenKrupp Marine Systems as preferred supplier to build up to 12 Type 212CD submarines for the Royal Canadian Navy, beating South Korea's Hanwha Ocean. The deal, worth up to C$60 billion to acquire and more than C$100 billion over its life, ties Canada into a German-Norwegian production line and a NATO fleet of up to 24 identical boats — a signal victory for Europe's rearming defence industry.