Marine Link
Thursday, October 27, 2016

Merger Between BAE Systems and VT Close to Completion

February 21, 2007

BAE Systems (BAESY) 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 Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News