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German Defense Minister Boris Pistorius and Norway's Tore Sandvik are accompanied by the chief executive officer of TKMS as Canada weighs joining a German-Norwegian submarine partnership. It would involve the procurement of the shipbuilder’s U212CD submarines, six of which Germany is expected to receive by 2037.

TKMS was just spun off from parent company Thyssenkrupp AG and held its initial public offering in Frankfurt on Monday, where CEO Oliver Burkhard told attendees he’s traveling to Ottawa with Pistorius to discuss the potential submarine order.

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Canada is becoming increasingly important for Germany as a transatlantic ally, as the US pulls back from traditional partnerships with Europe. Canada, in turn, wants its industry to benefit from a booming European market.

Germany, Norway and Canada entered into a maritime security partnership in 2024, with Denmark also joining this year. The countries want to jointly protect critical underwater infrastructure and strengthen their anti-submarine warfare capabilities.

Canada also forged a security partnership with the European Union in June, which moves the country closer to being able to access the EU’s SAFE defense procurement financing mechanism if it partners with at least one EU member state.

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