TKMS floats working with European shipyards to deliver Canada’s subs faster

Ottawa - TKMS CEO Oliver Burkhard faced a nail-biting moment when he boarded a flight to Canada, unsure if he would secure a multi-billion dollar contract or leave empty-handed. The German subsidiary, which has previously supplied submarines to NATO members, won the contract to build Canada’s next fleet of submarines after a rapid procurement process that lasted only eight months.

Burkhard, who became CEO in 2022, described winning the contract as the toughest experience of his career. Canada plans to acquire up to 12 submarines to replace its aging Victoria-class vessels, which will be decommissioned in the mid-2030s. Burkhard is set to meet with Canadian business partners on Monday to discuss the next phase of the project, which could be finalized within six to 18 months.

While Germany and Norway have submarines in TKMS's delivery lineup ahead of Canada’s order, the timeline for the submarine contract and other aspects of the project could take longer.