07 Jul 2026 08:45 CEST

Issuer

Kongsberg Gruppen ASA

Canada has decided to proceed with Norway and Germany on the acquisition of the
212CD submarines, which are the same type of submarine that Norway and Germany
are acquiring. The decision means the parties will now start contract
negotiations on Canadian participation in the 212CD programme.

By choosing to participate in the 212CD programme, Canada will become an equal
partner in an established submarine cooperation with Norway and Germany. The
programme facilitates joint development, standardisation and long-term
operational effect for allied nations.

In a statement, Canada said its submarine programme would include up to 12
modern submarines, and that it would conclude contracting no later than the end
of 2027, with the first four submarines to be delivered ahead of schedule, in
2034.

“This is a big milestone for the 212CD program and for the industrial
cooperation between Canada, Norway and Germany. KONGSBERG has world-leading
combat system experience spanning decades, and we look forward to contributing
further to a programme that strengthens allied underwater capabilities,” says
Eirik Lie, CEO of KONGSBERG.

KONGSBERG is a key partner in the programme and a significant supplier for the
combat system on board the 212CD submarines. Through the company kta naval
systems, KONGSBERG supplies key elements for the ORCCA® combat system, which is
being developed for the 212CD submarines.

KONGSBERG is already well established in Canada through existing operations,
deliveries and cooperation with Canadian customers and industry partners. As
part of the ongoing work, KONGSBERG will make further investments and further
develop the industrial cooperation with Canadian industry.

212CD, delivered by Germany’s TKMS, is a multinational submarine programme for
the development and acquisition of modern conventional submarines. The programme
represents long-term industrial and technological cooperation between allied
nations and key industrial partners from the participating nations.

Kta naval systems is owned by KONGSBERG, TKMS and Atlas Elektronik. The joint
venture was established in 2017 to develop next-generation combat systems in
non-nuclear submarines. Kta naval systems develops, produces and maintains
combat systems for submarines from TKMS.

KONGSBERG (OSE ticker: KOG) is an international technology and defence company
that delivers critical products and solutions in defence, security and
surveillance on land, underwater and in space. KONGSBERG has approximately 7 800
employees in 20 countries and had a total revenue of NOK 32.8 billion in 2025.


Source

Kongsberg Gruppen ASA

Provider

Oslo Børs Newspoint

Company Name

Kongsberg Gruppen ASA 23/30 4,85%, KONGSBERG GRUPPEN

ISIN

NO0012928227, NO0013536151

Symbol

KOG

Market

Euronext Oslo Børs