Hanwha Ocean Co., Ltd. 042660

STORY:  "I'm pleased to announce that Canada has selected TKMS as the preferred supplier for Canada's patrol submarine project." Germany's TKMS is to build up to 12 submarines for Canada's navy.... as it deepens ties with Europe. TKMS, majority-owned by German conglomerate Thyssenkrupp, beat out a competing offer from South Korea's Hanwha Ocean. Speaking at a news conference, Canadian Prime Minister Mark Carney didn't give the cost of the purchase. "We face numerous and growing threats, from incursions in our Arctic to attacks in our cyberspace. The nature of warfare is changing rapidly, drive

Shares in South Korean shipbuilder Hanwha Ocean plunged almost 24% on Tuesday, after the company lost a multibillion-dollar contract for Canadian submarines to German naval shipbuilder TKMS. Kiel-based TKMS is to supply the country with up to 12 submarines, Canadian Prime Minister Mark Carney announced in Halifax on Monday.