TKMS and Finkl Steel – Sorel Sign Teaming Agreement to Explore Cooperation on Strategic Materials for the Canadian Patrol Submarine Project

• The Teaming Agreement establishes a framework for cooperation between both companies with a particular focus on the potential melting and production of stainless-steel material for the Canadian Patrol Submarine Project (CPSP).
• The collaboration aims to strengthen Canada's industrial base for naval programs by combining TKMS's global submarine expertise with Finkl Steel - Sorel's advanced metallurgical capabilities.
• The agreement provides a basis for exploring future procurement opportunities and potential long-term industrial participation for Finkl Steel - Sorel arising from the CPSP and related naval programs.

Kiel, April 13, 2026 - TKMS and Finkl Steel - Sorel, a member of Swiss Steel Group and a leading Canadian manufacturer of high-performance forged steel components, signed a Teaming Agreement aimed at strengthening industrial cooperation in support of Canada's future submarine capabilities.

Under the agreement, the parties will jointly explore, develop and implement cooperation related to the melting and production of specialized stainless-steel material grade 1.3964 required for modern submarine platforms within the Canadian Patrol Submarine Project (CPSP).

"Canada's submarine program represents an important opportunity to combine world-class naval engineering with strong local industrial participation," said Thomas Keupp, Chief Sales Officer at TKMS. "Through this agreement with Finkl Steel - Sorel, we are exploring how advanced Canadian metallurgical capabilities can contribute to the production of critical materials required for modern submarine platforms. TKMS values partnerships that strengthen domestic supply chains while meeting the highest international naval standards."

As part of the cooperation, the parties will evaluate the path for Finkl Steel - Sorel to qualify for the production of this specialized naval-grade material in accordance with applicable international naval standards. This includes meeting the technical requirements of the German Institute for Defence Materials and Production Technology (WIWeB) and the classification society Det Norske Veritas (DNV), as well as compliance with Construction Regulations 1050 for German Navy Ships issued by the Federal Office of Defence Technology and Procurement.

"The Canadian Patrol Submarine Project is a defining initiative for Canada's long-term security and industrial resilience," said Louis-Philippe Lapierre-Boire, COO at Finkl Steel - Sorel. "Finkl Steel - Sorel is proud to work alongside TKMS to help establish a strong, future-ready Canadian industrial foundation for this program. Our capabilities in advanced steel forging, metallurgical engineering, and complex component manufacturing position us as a strategic partner in supporting high-performance naval platforms. Beyond the platform itself, this partnership is about building sustainable expertise, reinforcing Canada's defence supply chain, and creating enduring economic impact. We look forward to contributing to a program that will serve Canada for decades to come."

The cooperation will include the exchange of technical information related to material dimensions, chemical composition, certification requirements and relevant Canadian regulatory considerations. Both companies also intend to explore opportunities to maximize Canadian value-added contributions within the CPSP framework.