Hanwha Ocean Releases Statement On The Canadian Patrol Submarine Project

Statement

Hanwha Canada released the following statement following the downselection of TKMS as the preferred supplier for the Canadian Patrol Submarine Project:

“Today, Hanwha Ocean learned that its KSS-III submarine was not chosen in the competition to become the Royal Canadian Navy’s platform in their Canadian Patrol Submarine Project. While this is disappointing news, it has been a tremendous team effort and an awakening on both sides of the Pacific for what is possible. The team at Hanwha have demonstrated to the Canadian public and government that there is unlimited potential to unlock within the South Korean defence industrial base and that Hanwha and its business divisions will continue to grow aside from today’s decision. We look forward to continuing to demonstrate why Hanwha is the backbone of the world’s fourth largest defence export nation.”

Glenn Copeland, CEO of Hanwha Canada