South Korean submarine maker Hanwha signs agreement with Algoma Steel | Page 3 | Unpublished
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Source Feed: The Globe and Mail
Author: Kyle Duggan
Publication Date: January 26, 2026 - 16:19

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South Korean submarine maker Hanwha signs agreement with Algoma Steel

January 26, 2026

South Korean submarine maker Hanwha Ocean says it has signed a series of partnership agreements with Canadian companies, including Sault Ste. Marie’s tariff-battered Algoma Steel ASTL-T.

Hanwha says it signed a memorandum of understanding with Algoma that pledges $275-million in financial support to stand up a new structural steel beam mill in Canada.

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