{"url":"https://newsforagent.com/news/2026-11-04/thyssenkrupp-canada-submarine-contest-lopez","markdown_url":"https://newsforagent.com/news/2026-11-04/thyssenkrupp-canada-submarine-contest-lopez.md","title":"ThyssenKrupp CEO Calls Canada Submarine Contest Close","headline":"ThyssenKrupp CEO Miguel Lopez Says TKMS-Hanwha Canada Submarine Race Was 'Very Close'","description":"ThyssenKrupp CEO Miguel Lopez said the Canada submarine contest between TKMS and Hanwha Ocean was very close, as the group plans to spin off steel by 2030.","section":"Divestitures","published_at":"2026-11-04T03:28:25+00:00","modified_at":"2026-11-04T03:28:25+00:00","author":"News Desk","key_takeaways":["ThyssenKrupp CEO Miguel Lopez said there was not a lot of delta between TKMS and Hanwha Ocean in Canada's submarine contest.","TKMS was selected as Canada's preferred supplier in July for a program to acquire up to 12 submarines.","ThyssenKrupp plans to spin off steel, automotive and decarbonization businesses and become a financial holding company by 2030."],"companies":[{"name":"ThyssenKrupp","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0000gig/thyssenkrupp","website":"https://www.thyssenkrupp.com"},{"name":"TKMS","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00q3iea/tkms","website":"https://www.tkmsgroup.com"}],"source":{"publisher":"Naver","title":"Thyssenkrupp CEO says Canada submarine contest with Hanwha was 'very close'","url":"https://n.news.naver.com/mnews/article/044/0000291720"},"other_sources":[],"tags":["Divestitures","ThyssenKrupp","TKMS"],"body_markdown":"[ThyssenKrupp](https://akta.pro/company-profiles/0000gig/thyssenkrupp) CEO Miguel Lopez said the Canada submarine contest between its naval shipbuilding arm [TKMS](https://akta.pro/company-profiles/00q3iea/tkms) and South Korea's Hanwha Ocean was very close, with no significant delta between the two bidders. Lopez made the remarks in an interview with The Korea Herald, [Naver](https://n.news.naver.com/mnews/article/044/0000291720) reported on November 4, 2026.\n\n## Lopez on the TKMS Canada Submarine Contest\n\nTKMS was selected as Canada's preferred supplier in July for a multibillion dollar program to acquire up to 12 submarines, following a contest in which Germany and South Korea backed their respective bidders. \"Canada has been very, very close competition. I don't think that there was a lot of delta between the two companies,\" Lopez said at the Asia-Pacific Conference of German Business in Seoul on Friday.\n\nAsked whether the two countries' shipbuilders could cooperate on international defense projects despite their rivalry, Lopez said the changing geopolitical landscape was creating opportunities for closer cooperation between European and South Korean companies. \"I am very much convinced that in the next couple of years, more and more cooperation will happen between German, European and South Korean companies,\" he said, without identifying specific partnerships involving the shipbuilders. Lopez said TKMS would continue to strengthen its technological edge in the global naval defense market, particularly through investments in uncrewed systems and software.\n\n## ThyssenKrupp's Spin-Off Plan Through 2030\n\nThyssenKrupp is carrying out a restructuring aimed at turning the conglomerate into a lean financial holding company by 2030. The company has already spun off and listed several businesses, including TKMS in October last year and aerospace materials business TK Accelis last week, retaining a 51 percent controlling stake in both while distributing the remaining 49 percent to shareholders. Steel is next in line, followed by automotive operations and, eventually, decarbonization technologies. \"We are preparing now for making steel independent,\" Lopez said, adding that no firm date has been set. \"We want to be completed by 2030 overall,\" he said.\n\n## ThyssenKrupp's Earlier Spin-Off Moves\n\nThyssenkrupp said it would spin off its materials trading division tk accelis on October 28, listing 49 percent of the business, Reuters reported. The division, with €11.4 billion in sales and 15,500 employees, was to be acquired by shareholders at a 1:20 ratio. At the IPO Night in Frankfurt, TKMS was honored for capital-market achievements, Presseportal reported, after its stock rose to 107 euros following a 60-euro IPO.\n\n## ThyssenKrupp's December Reporting Date\n\nThyssenKrupp AG will publish its consolidated annual financial report for fiscal year 2025/2026 in German and English on December 8, 2026, FinanzNachrichten.de reported, according to akta.pro [company records](https://akta.pro/company-data). The report will be available on the company's investor relations website.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}