The Canadian government intends to decide on the awarding of its multi-billion dollar submarine contract in the coming weeks. Canada remains on track to reach a decision by the end of June, Prime Minister Mark Carney said on Wednesday. Thyssenkrupp's defense subsidiary, TKMS, is bidding for the contract with the support of the German federal government. Industry experts estimate the value of the submarine order alone at more than ten billion euros. The competitor is the South Korean group Hanwha Ocean.

(Report by Reuters Ottawa, edited by Tom Käckenhoff, copy-edited by Christian Rüttger. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)