Branch2 Intelligence
Hanwha Ocean shares sink 23% as it loses bid to build Canada's next fleet of submarines
Key takeaway
Hanwha Ocean shares plunge 23% after losing Canada submarine contract to ThyssenKrupp Marine Systems.
- Step 11st-order: Hanwha Ocean loses Canada submarine contract to ThyssenKrupp Marine Systems.
- Step 22nd-order: Hanwha Ocean shares fall 23%, while TKMS gains a multi-billion dollar order book.
- Step 33rd-order: Defense supply chains reallocate: TKMS's suppliers see increased demand; Hanwha's suppliers face reduced orders.
Source: CNBC
This is automated analysis for information only. It is not investment advice, not a recommendation, and not a solicitation to buy or sell any security. Branch2 is not authorised or regulated. Do your own research.