‘Toughest experience’ of my life: TKMS CEO on past year vying for sub contract

OTTAWA – The last time TKMS CEO Oliver Burkhard stepped onto a flight to Canada, he wasn’t sure if he was about to win a multi-billion dollar contract, or leave the country empty handed.

The German company, chosen this summer as the preferred bidder for the Canadian navy’s next fleet of submarines, is not new to such nerve-racking contests. It has long supplied conventional submarines to NATO alliance members.

In an interview in Ottawa on Monday, though, Burkhard said Ottawa’s “light speed” naval procurement put him, and the company, through “quite a wild ride” to win what will be its largest contract ever. That is, assuming negotiations over the coming months conclude in its favour.

The firm learned a year ago it would have to fight South Korean rival Hanwha for the massive Canadian naval contract on a tight timeline. TKMS also held an initial public offering just a few months later, a major event and difficult time to shepherd any company through.

The past year, for Burkhard, was momentous.

“For me, personally, it was really the toughest experience I had in my working life,” said Burkhard, 54, a former union leader who became CEO in 2022.

“What we saw, especially in Canada — I mean, eight months from request for proposal to final decision. This is a process that would last normally two to three years. So, very fast.”

Prime Minister Mark Carney named TKMS as the government’s preferred bidder on July 6, just before rushing off to the annual NATO leaders’ summit in Ankara, Turkey.

Carney said it was a close race between the German submarine maker and its South Korean rival Hanwha.

Canada plans to purchase a fleet of up to 12 submarines to replace its four, aging Victoria-class submarines, which will be retired from service in the mid-2030s.

Burkhard traveled to Ottawa to meet with representatives on Monday from dozens of businesses partnering on the Canadian submarine project to update them on the next phase for the project.

Canada and TKMS are entering into negotiations which could take somewhere from six to 18 months to fully complete. Germany and Norway both have submarines in the firm’s delivery lineup ahead of Canada’s orders.

Burkhard said those talks will take place on different tracks. That includes the submarine contract itself, the industrial benefits delivered to the Canadian economy, plans for marine infrastructure and the long-term servicing of the subs.

“The submarine contract could be fast, maybe within the first six months,” he said. “There are other topics where it maybe lasts a bit longer, where Canada has to make a decision.”

Sorting out the transition from the Victorias and the plans for how the 212CD submarines will be maintained over their entire lifespans, for example, could take about a year and a half. 

“We went light speed through the proposal. Now, let’s finish this at light speed until the effective date of contract.”

Under the company’s proposal to supply 12 subs, TKMS would deliver Canada’s first 212CD in 2033, with a full fleet in Canada’s hands by 2043.

The first batch of delivery dates had to be negotiated with the other governments with orders in the queue.

Germany and Norway’s orders finish in the late 2030s. After that, there will only be five or six Canadian submarines in the production pipeline, Burkhard said.

A big part of the sales pitch for Canada to buy these subs has rested on sailing the same boats that NATO allies Germany and Norway will also put in the water.

Another NATO ally, Greece, is also interested in joining that club. 

Burkhard said adding another country to the mix would not affect Canada’s position in the order book, and members of the sub club all have to agree on it.

The timeline set out in the company’s bid for Canada’s submarine project, though, is firm.

“We have, let’s say, enlarged our capacities to fulfil that, so that we can keep our promise, and therefore I don’t think this is negotiable,” he said.

Looking ahead, TKMS is examining ways it could bolster its capacity in a world where NATO countries are looking to re-arm as fast as possible.

Burkhard said on Monday the company is considering ways to speed up delivery schedules by partnering with other European shipyards, like Spanish submarine maker Navantia.

A spokesperson later clarified the 212CDs Canada is buying would not be part of that effort, which would only cover future projects.

Burkhard does, however, envision involving companies across a wide range of countries becoming more involved in TKMS supply chains, likening the situation to how Airbus came together in the 1970s.

The CEO said he’s happy in the meantime to have his order books filled.

“There are still some campaigns out there where we race for it, but now the main topic of the work in the future is execution.”

This report by The Canadian Press was first published Aug. 17, 2026.

Note to readers:This is a corrected story. A previous version of this story suggested Navantia might help speed up Canada’s submarine delivery timeline.