Algoma Steel Eyes Defense Boom

Algoma Steel is poised to supply military-grade steel to South Korea’s Hanwha, a key step toward potential Canadian manufacturing of defense vehicles — all tied to Hanwha’s bid for Canada’s $10B submarine contract. With layoffs recently hitting 1,000 workers and a government-backed loan, this deal comes amid economic uncertainty, but officials expect a decision on the submarine contract this month — a decision that could reshape Canada’s defense industrial future. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/35020a979d2169d4