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Tag: Canadian

Canadian Commercial to provide spare parts for U.S. Navy surface ship sonars

Canadian Commercial to provide spare parts for U.S. Navy surface ship sonars

Business
Nov. 8 (UPI) -- Canadian Commercial has been awarded a $ 10 million contract by the U.S. Navy for the refurbishment and manufacturing of the TR-343 sonar transducer tube assemblies for repair purposes. The TR-343 transducer is used in the AN/SQS-53C hull-mounted sonar array for the AN/SQQ-89(V) sonar weapons system. Manufacturing of the tube assemblies is expected to run through November 2023 under the Navy contract. The AN/SQQ-89(V) Surface Ship ASW Combat system is an integrated undersea warfare suite designed to detect, track, provide targeting data and engage enemy submarines, mines, and other underwater systems. It collects data from a variety of sonar systems such as towed-arrays, sonobuoys and other active and passive systems into one sensor picture, allowing better situational awa...
Facebook denies request for Zuckerberg to appear before Canadian, British lawmakers

Facebook denies request for Zuckerberg to appear before Canadian, British lawmakers

World
Nov. 7 (UPI) -- Facebook founder and CEO Mark Zuckerberg declined an invitation to testify before British and Canadian lawmakers about the social media giant's data privacy. Facebook's head of U.K. public policy Rebecca Stimson and head of Canada public policy Kevin Chan, responded to the request by British Member of Parliament Damian Collins and Canadian Member of Parliament Bob Zimmer in a letter released Wednesday, informing the lawmakers it isn't possible for Zuckerberg "to be available to all Parliaments." "While he is unable to accept your invitation we continue to fully recognize the seriousness of these issues and remain committed to working with you to provide any additional relevant information you require for your respective inquiries," they wrote. In their letter to Facebook i...
Lockheed named preferred bidder for Canadian navy bid

Lockheed named preferred bidder for Canadian navy bid

Business
Oct. 19 (UPI) -- Lockheed Martin Canada could be the next company to shape up Canada's shipyard after winning a competition to design the next fleet of Royal Canadian Navy ships. A team of contractors led by Lockheed was announced Friday as the preferred bidder after presenting a BAE Type 26 design to the government of Canada and Irving Shipbuilders Inc. Now the team is one step closer to taking home a contract worth $ 60 billion. The next step in the bidding process will take place over the early months of 2019, when the Canadian government will examine the winning bidder's financial solvency and design proposal. During that time, Lockheed will go through the "due diligence" process, which includes negotiations with the company on intellectual property rights, an assessment of combat sys...
Canadian pensioners swoop on £3bn Gatwick stake

Canadian pensioners swoop on £3bn Gatwick stake

Business
Canada's biggest pension fund is preparing to swoop for part of a stake in London's Gatwick Airport that could be worth more than £3bn - days after it unveiled a plan to use its emergency runway to boost capacity. Sky News has learnt that the Canada Pension Plan Investment Board (CPPIB) is part of a group of investors which are proposing to buy out Global Infrastructure Partners (GIP), Gatwick's biggest shareholder since 2009.A deal is expected to be finalised in the coming weeks, with CPPIB participating in an agreement alongside other pension and infrastructure funds.If it proceeds with a transaction, the Canadian retirement scheme, which managed $ 356.1bn (£272bn) at the end of its financial year in March, would invest hundreds of millions of pounds in Britain...
New cash will fund Canadian shale operations

New cash will fund Canadian shale operations

Business
Aug. 17 (UPI) -- Australian energy company Calima said Friday that investment interest was strong enough to support a robust drilling campaign in a Canadian shale basin. In an emailed statement, the company said it was oversubscribed in a share placement, taking in $ 18.1 million (USD) that it would use to fund operations in the Montney shale basin in western Canada. "Proceeds from the placement will be used by Calima to drill and test three wells on the Calima lands within the Montney," Alan Stein, the managing director for Calima Energy, said. The company said it's uncovered more than 500 drilling sites near its acreage that revealed promise for a hydraulic fracturing campaign in the Montney shale basin in British Columbia. Advances in horizontal drilling and hydraulic fracturing, or f...