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BAE Systems and VT Group form a Joint Venture

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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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