UPDATE 6-Canada taps Germany's TKMS for submarines ahead of NATO summit

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Releads with announcement of decision

By Maria Cheng

OTTAWA, July 6 (Reuters) - Canada said on Monday it wanted Germany's TKMS to build up to 12 submarines for its navy, deepening defense ties with Europe ahead of a NATO leaders’ summit centered on higher military spending.

TKMS, majority-owned by German conglomerate Thyssenkrupp TKAG.DE, beat out a competing offer from South Korea's Hanwha Ocean 042660.KS.

"This procurement will be the largest in Canadian history," Prime Minister Mark Carney told a news conference in the Atlantic port of Halifax, but did not give an amount.

Carney, speaking just hours before flying to a NATO summit in Turkey, said Ottawa would now enter talks with TKMS.

"This was a difficult, close decision between two highly qualified suppliers," he said.


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