Two key Canadian defence firms have recently been purchased by foreign companies despite Prime Minister Mark Carney’s push to cut the country’s reliance on military equipment controlled by other nations.
U.S. defence giant Lockheed Martin purchased Ultra Maritime, the Dartmouth, N.S. company founded in 1947. Ultra plays a key role in the development of sonar and other undersea warfare systems. It’s equipment is on board the Royal Canadian Navy’s Halifax-class frigates and will be installed on Canada’s new River-class warships. Lockheed Martin purchased the firm for more than $3.4 billion.
