Fincantieri, through its subsidiary WASS Submarine Systems, and Magellan Aerospace Corporation have signed a Memorandum of Understanding (MoU) to identify and develop areas of industrial cooperation aimed at strengthening Canada’s underwater defense capabilities.
As informed, the agreement was signed during CANSEC 2026, the defense exhibition recently held in Ottawa, Canada.
Within this framework, WASS Submarine Systems and Magellan will work together to explore opportunities for Canadian industrial participation in heavyweight torpedoes and torpedo countermeasures system capabilities.
Areas of cooperation also include the production of components, energetic sections, subassemblies, final assembly and factory testing, as well as maintenance and in-service support activities.
WASS contributes experience in underwater defense systems and related industrial and technological capabilities to the collaboration. The agreement establishes a framework for cooperation between the two companies and supports work related to underwater defense systems in Canada.
By combining WASS’ expertise in underwater systems with Magellan’s industrial presence in Canada, the collaboration is intended to support long-term development of domestic underwater defense capabilities, increase local industrial participation, and enable in-country sustainment across the system lifecycle.
To remind, in January this year, WASS secured a major contract from the Ministry of Defense of the Kingdom of Saudi Arabia for the supply of MU90 lightweight torpedoes. The agreement, valued at more than €200 million, is the largest contract ever awarded to WASS.