TKMS And Patriot Forge Announce New Framework Agreement For The Canadian Patrol Submarine Project
Press Release With Some Modification
TKMS and Patriot Forge Corporation have agreed on a framework agreement in the context of the Canadian submarine program, which includes the examination of both the joint production and supply of special open-die forgings as well as seamless rolled rings.
Based on Patriot Forge's expertise in advanced open-die forgings and seamless rolled rings, the collaboration is expected to make an important contribution to TKMS's commitment to the Canadian Patrol Submarine Project (CPSP).
The cooperation will promote qualification processes, the exchange of technical knowledge and cooperation with key certification bodies. At the same time, it will enable the long-term participation of industry and strengthen Canada's defense supply chain.
Noah Note: More to TKMS strategy of building out suppliers specifically in steel and critical parts. Patriot Forge is one of those Canadian companies that is very overlooked. They're the country's largest custom open-die and rolled ring forging company, with the capacity to produce critical metal parts ranging from 5 to 90,000 lbs.
As we discussed before, one area that Canadian manufacturing, especially in Steel, struggles with at times is size and scale. There are few who could do what someone like Patriot Forge does, and for that reason I always find their inclusion in these conversations vwry important.
So their inclusion makes me happy. Also reaffirms what I thought TKMS closing strategy would be, try to showcase building the supply chain ahead of a downselect. Hanwha has gone different, focus on highlighting the scale and depth of their partnerships over throwing down firm commitments like an actual steel order.
Whether that strategy works for TKMS I can't say. It is a risk, expaneisve one to make depending on how far they go.