BAE Systems and VT Group form a Joint Venture

BAE Systems plc and VT Group plc together formed a joint venture for production and supply of surface warships and through-life support. The joint venture will be a premier provider of warships to UK. The joint venture formation is in line with the UK ministry of Defence sector rationalization, which is a part of the UK Defence Industrial Strategy.

BAE Systems, VT and the Ministry of Defence (MoD) also signed a Terms of Business Agreement (ToBA) which sets out a 15-year partnering arrangement that will offer a defined forward workload of design, build and through-life support work. The joint venture will operate as a future strategic partner of the UK government for supply of warships and will also pursue export opportunities.

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Project Name

BAE Systems and VT Group Joint Venture

Location

United Kingdom

Commence

July 25, 2007

Completion

N.A

Estimated Investment

N.A

Capacity

N.A

Key Players

BAE Systems plc and VT Group plc