Branch2 Intelligence
A Korean firm loses a Canada submarine deal to German counterpart; Stock falls 23%
Key takeaway
Canada selects Thyssenkrupp Marine Systems as preferred supplier for submarine deal, displacing a Korean competitor.
- Step 11st-order: Canada selects Thyssenkrupp Marine Systems as preferred submarine supplier, displacing a Korean competitor.
- Step 22nd-order: Korean shipbuilder (Hanwha Ocean) loses contract, stock falls 23%, signalling revenue loss and potential capacity idling.
- Step 33rd-order: Thyssenkrupp Marine Systems' win may lead to increased subcontracting to UK defence SMEs, as the supply chain for complex naval systems often involves UK-based engineering and component firms.
Source: CNBC TV18 (Markets)
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