Merger Between BAE Systems and VT Close to Completion
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
Salvage Experts Remove 60% of Napoli's Oil
Around 60 percent of the fuel oil aboard a damaged container ship grounded off a World Heritage Site coast has been removed, officials said. The 62,000 ton MSC Napoli, listing a mile off Sidmouth, east Devon, was carrying 3,500 tons of fuel oil when she was grounded there the weekend before last. By yesterday 2,105 tons of fuel had been removed, and pumping was continuing round the clock, said Zodiac Maritime Agencies (ZMA) of London. The Maritime and Coastguard Agency (MCA) senior coastguard Derek Smith said the removal of the oil was the salvage operation's top priority. The decision to ground the Napoli was made amid fears she could go down under tow to Portland, Dorset, following a Channel storm in which her 26 crew were rescued.
Deep Sea to Supply Cuba with Generators
After winning a $1.7 million contract to supply technology to Cuba, Deep Sea Electronics, a North Yorkshire manufacturer of control systems for the power generation industry, will distribute more than 4,000 generators for the project which is expected take 18 months to complete. The systems will help alleviate Cuba's growing electricity problems, caused by lack of investment which has resulted in frequent blackouts and energy shortages – a situation made worse by Hurricane Ivan. The company has recently invested $1.3 million to extend its production facilities at Hunmanby, near Filey, to prepare for future expansion. (Source: Yorkshire Post Today)
