48776
45076
S&P/TSX
16108.09
+33.79
(0.21%)
S&P-CDNX
794.08
+1.30
(0.16%)
S&P-500
2602.42
+5.34
(0.21%)
NASDAQ
6889.16
+21.80
(0.32%)
Dow
23557.99
+31.81
(0.14%)
Dollar
0.7872
+0.00060
(0.076%)
Oil
58.97
+0.95
(+1.64%)
Gold
1288.04
-4.16
(-0.32%)
Silver
17.008
-0.104
(-0.61%)


$5.2B contract for Thales

The Canadian subsidiary of French defence giant Thales has been awarded a multibillion-dollar contract to service Canada's new fleet of Arctic offshore patrol ships and joint support vessels.

The federal government says Thales Canada, in a joint venture with the company's Australian arm, will provide in-service support for the vessels under a contract that could total $5.2 billion over 35 years.

Acting Procurement Minister Jim Carr announced the awarding of the contract along with parliamentary secretary Steven MacKinnon today during joint news conferences in Dartmouth, N.S., and Ottawa.

The government says the initial service period will span eight years, at an estimated cost of $800 million, to retrofit, maintain and repair the ships.

Thales Canada will also provide training for those operating the vessels.

Officials say Thales will be required to hire subcontractors to complete the work in regions across the country to ensure widespread economic benefits.



More Business News

45580
Recent Trending
46947
48032
Castanet Proud Member of RTNDA Canada
Press Room
48214
48745