South Korea’s Hanwha to use Algoma Steel material to build military vehicles in Canada - BNN Bloomberg
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Article Excerpt
South Korean defense company, Hanwha, has announced that it will use steel made at Algoma’s Sault Ste. Marie plant to build armoured weaponized military vehicles in Canada. The deal is contingent on Hanwha winning the lucrative bid to build Canada’s next generation submarine fleet.
The prime minister says the winner will be announced by the end of June. It will take place ahead of the start of the Canada-U.S.-Mexico (CUSMA) trade agreement review which begins July 1.
Today’s announcement by Hanwha builds on an April memorandum of understanding signed with the Automotive Parts Manufacturing A…
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