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South Korea’s Hanwha to use Algoma Steel material to build military vehicles in Canada
The deal could support Canadian military vehicle production and other industries hit by U.S. tariffs if Hanwha wins the submarine contract.
- On Monday, South Korean defence firm Hanwha announced an agreement with Algoma Steel to supply military-grade steel for possible manufacturing of land defence vehicles in Canada at a Martinrea International facility in Vaughan, Ont.
- This supply deal remains contingent on Hanwha winning Canada's multi-billion-dollar contract to supply the navy with up to 12 submarines, competing against Germany's TKMS.
- In April, Hanwha reached a separate agreement with the Automotive Parts Manufacturers' Association for a prospective joint venture to manufacture military land vehicles for the Canadian Armed Forces.
- Weeks after accepting a $500 million government loan, Algoma Steel announced it will lay off roughly 1,000 workers, prompting local union leadership to join Focus Ontario to discuss members' futures.
- Canadian officials indicated at an arms expo in Ottawa last week that the federal government expects to announce the submarine contract winner this month, determining Hanwha's path forward.
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29 Articles
29 Articles
Hanwha promises military vehicle deal for Algoma Steel if it gets Canadian sub contract
Three top South Korean officials moved to strengthen Hanwha Ocean's bid to build Canada's new submarine fleet announcing a reinforced partnership between the shipyard and Canada's Automotive Parts Manufacturers Association and Algoma Steel.
·Canada
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The South Korean defence company Hanwha announced that it had entered into an agreement with Algoma Steel to obtain military-grade steel for the possible manufacture of land defence vehicles in Canada.
·Montreal, Canada
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The Toronto Star+20 Reposted by 20 other sources
Algoma Steel would supply material for land vehicles: Hanwha
OTTAWA - South Korean defence firm Hanwha says it has reached a deal with Algoma Steel to supply military-grade steel for the possible manufacturing of land defence vehicles in Canada.
·Toronto, Canada
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Coverage Details
Total News Sources29
Leaning Left18Leaning Right1Center3Last UpdatedBias Distribution82% Left
Bias Distribution
- 82% of the sources lean Left
82% Left
L 82%
14%
Factuality
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