OSLO (dpa-AFX) - Tuesday, Kongsberg Gruppen ASA (KBGGY.PK) announced plans to expand its presence in Canada through a Memorandum of Understanding with MDA Space Ltd. and a strategic Letter of Intent with Telesat LEO ULC, a subsidiary of Telesat Corp.
The Memorandum of Understanding intends to explore joint space and defence projects and technical cooperation in a variety of domains, whereas the Letter of Intent aims to support the delivery of secure, resilient, low-latency military connectivity for Norway, Canada and their allies.
These agreements, which coincide with the official visit of Norwegian Prime Minister Jonas Gahr Støre to Ottawa, aim to deepen the strategic alliance between Canada and Norway.
Kongsberg's stock closed trading at $17.11, down 0.06 percent on the OTC Markets.
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