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Genoa Design International is set to be acquired by Membertou First Nation and Horizon Naval Engineering, with the transaction expected to complete by January 31, 2026. The acquisition aims to enhance marine capabilities and support growth in Canada's marine sector.

Chief Terry Paul highlighted the partnership as an opportunity for Indigenous participation in the ocean economy. The First Nations Finance Authority is providing financial support for the acquisition. Genoa has completed over 130 projects and specializes in detail design and 3D modeling for shipbuilding, particularly for Navy and Coast Guard programs.