VT Group to Update Progress of Joint Venture

Friday, May 11, 2007
VT plans to combine its shipbuilding business with that of BAE Systems PLC in line with UK government plans to make the industry more efficient and to prevent peaks and troughs in demand, AFX News reported. Delays by the Ministry of Defense (MoD) in giving the O.K. for work on a 3.5-3.9 bln stg contract to build two new aircraft carriers for the Royal Navy, which would form the bulk of the JV's future work, have put back an announcement. The MoD had been due to approve the start of manufacturing before the May local elections, but there is now speculation that it will not make an announcement until the new Prime Minister and leader of the Labour Party is decided at the end of next month. VT is keen for the MoD to make an announcement in the next month or two in order to avoid potential delays in the delivery of the two carriers beyond the expected dates of 2012 and 2015.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

OTC Names Technology Award Winners

The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award.

Jack W. Fisher Passes Away at 73

Jack W Fisher, president of JW Fishers Mfg. passed away at home after a brief illness on February 20, 2015. He was 73 years old.   The JW Fishers business was started because Fisher,

Piracy Still a Big Threat in the Indian Ocean

Underestimating the security risk in the Indian Ocean could put ships in danger once again, says maritime security company MAST Ltd.   “Whilst recent reports

Navy

India's Naval Help to Small Indian Ocean Nations

Indian Prime Minister Narendra Modi assigned senior officials in the Ministry of Defence with a task to “identify” and “support” maritime needs of smaller nations

Australia Announces Patrol Boat Tender

Tender announced for Pacific Patrol Boat Replacement Project   The Australian Government announced a Request for Tender (RFT) to replace the Pacific Patrol Boats

6 NATO Ships Begin Joint Black Sea Exercise

Six NATO warships, including Turkish, Bulgarian and Romanian vessels, have arrived to the Black Sea to start joint training exercises.    NATO ships assigned

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1286 sec (8 req/sec)