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German Navy to purchase C$1 billion Canadian combat management system, Canada's trade minister says
The $1 billion project aims to create 500 jobs and strengthen supply security for NATO and European allies amid rising demand for artillery propellants and explosives.
- On Tuesday in Paris, Nalagx Corp. and France's Eurenco will announce a letter of intent to build Canada's biggest explosives factory since the Second World War.
- Rising battlefield demand from Ukraine has driven NATO countries to rebuild arsenals after decades of underinvestment, straining global supply of 105-mm and 155-mm shells.
- Nalagx is scouting five potential Canadian sites near rail and ports, arranging two financing tranches: US$406-million with about US$100-million committed and US$200-million with US$50-million committed, while Eurenco will operate factories under a fee arrangement.
- The deal could be valued at about US$406-million and is projected to create 500 direct jobs in Canada, signaling a rebirth of the defence industry, Nalagx CEO Patrick Gagnon said.
- The venture will include three factories focused on 155-mm shells, following Eurenco's expansion and last month's deal with Poland's PGZ.
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German Navy to purchase C$1 billion Canadian combat management system, Canada's trade minister says
The German Navy will purchase Lockheed Martin Canada's combat management system CMS 330 for more than C$1 billion, Canadian trade minister Maninder Sidhu announced Monday.
·London, United Kingdom
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The Bundeswehr is talking about a "central milestone": The German Navy is buying a Canadian combat system for more than a billion euros.
·Berlin, Germany
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The ships of the German Navy receive a new management and weapons deployment system. The government in Berlin has concluded a government agreement with Canada for this purpose. The Bundeswehr speaks of a »milestone«.
·Hamburg, Germany
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Coverage Details
Total News Sources10
Leaning Left3Leaning Right3Center4Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 30%
C 40%
R 30%
Factuality
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