“Canada's got to be ready”: Feds announce $307M contract for Canadian-made assault rifles

https://www.youtube.com/channel/UChLtXXpo4Ge1ReTEboVvTDg https://ift.tt/54y7cFP Defence Minister David McGuinty and Defence Procurement Secretary of State Stephen Fuhr announced a $307-million contract awarded to Colt Canada in Waterloo, Ont. on Thursday. The investment will purchase up to 65,402 assault rifles to replace aging weaponry that has been in service for more than 35 years and enable Canadian defence companies to expand their production capacity to export arms. “The contract will also deliver major economic benefits for Canada. Colt has committed to include 80 per cent Canadian content within the rifle, creating new activity jobs across the supply chain,” Fuhr said. McGuinty provided context behind this announcement, highlighting that “the world is shifting in ways that are faster, more complex, more uncertain than we've seen in decades,” and as a result, Canada has “got to do more to ensure that the CAF have the equipment and the capabilities they need to meet these challenges head on. Canada's got to be ready to defend its vast and resource-rich territory.” This latest investment comes after McGuinty announced a multi-million-dollar investment with IMT Precision for artillery munitions in Ingersoll, Ont. on Wednesday. For more info, please go to https://globalnews.ca Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on TikTok HERE: https://ift.tt/5cFnAZm #GlobalNews