Merger Between BAE Systems and VT Close to Completion

Wednesday, February 21, 2007
BAE Systems and VT Group were reported to be close to completing a $1.9b merger of their shipbuilding assets. The tie-up, which it was reported could happen in about five weeks, is being driven by the Ministry of Defence's desire for industry consolidation ahead of a aircraft carrier project for the Royal Navy. The MoD also believes that one national champion will stand a better chance of winning export orders in the future. It will also allow the companies to concentrate on specialist skills rather than duplicating operations. BAE Systems and VT Group said in December that they were in early discussions regarding the combination of their surface ship and naval support businesses. Source: Yorkshire Post
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

Navy

China, Russia in Sea of Japan Joint Military Drills

China and Russia will hold joint naval and air defence drills in the Sea of Japan, China said on Thursday, the latest exercises between the two countries which could concern Japan,

China: U.S. "Militarizing" South China Sea

China's Defence Ministry on Thursday accused the United States of "militarising" the South China Sea by staging patrols and joint military drills there, ramping

Navy to Commission Submarine John Warner

The Navy will commission its newest fast attack submarine, the future USS John Warner (SSN 785), during a 10 a.m. EDT ceremony Saturday, Aug. 1, 2015, at Naval Station Norfolk,

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1459 sec (7 req/sec)