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Board Of Directors Of Vt News

30 Jun 2017

Landay Joins Gibbs & Cox Board of Directors

Naval architecture and marine engineering firm Gibbs & Cox, Inc. said that William E. "Bill" Landay III, President of W.E. LANDAY Consulting LLC, has been elected to its Board of Directors effective June 20, 2017. "[VADM Landay’s] expertise in the areas of foreign military sales, DoD acquisition, and science and technology programs will be a tremendous addition to the future growth of Gibbs & Cox," said President and Chief Executive Chris Deegan. Vice Admiral Landay retired in 2013 after more than 35 years of Naval service. His final assignment was as Director of the Defense Security Cooperation Agency (DSCA) where he was in charge of the $400 billion DoD program responsible for the sale of equipment, defense technologies, training and other services to foreign governments.

25 Sep 2009

VT Group Disposal of Shareholding, BVT Surface Fleet

Support services company VT Group plc announced that it has signed a legally binding agreement with BAE Systems plc on the disposal of its 45 percent shareholding in BVT Surface Fleet Limited, the shipbuilding and naval support joint venture between BAE and VT, for cash consideration of $551.9m. In accordance with the joint venture agreement signed by VT and BAE on 11 June 2008 in relation to BVT, this cash consideration corresponds to the minimum exercise price of VT’s Put Option of $606.1m plus approximately $.9m of notional interest and net of deductions of $19.4m in respect of pensions liabilities, $35.1m in respect of dividend repayments and $.3m in respect of notional interest on funding provided by BAE Systems to BVT.