Bvt Surface Fleet News

Raytheon Systems Limited, Harlow together with Raytheon Anschütz has been awarded the contract for the In-Service Support (ISS) of the Integrated Bridge and Navigation Systems for the Royal Navy’s new Type 45 Daring class destroyers . Raytheon Anschütz will be responsible for total maintenance and repair of these systems on board the vessels until at least 2016. The Type 45 destroyers are being built by the British company BVT Surface Fleet, who also selected Raytheon for In-Service Support. The contract guarantees the Royal Navy a maximum uptime of their new ships at predictable operation costs, depending on performance-based payments and a volume control for ship usage.

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.

Gulf Logistics and Naval Support LLC (GLNS), a new Abu Dhabi-based company, was launched on July 27, offering a complete range of support services to maritime defense forces and other vessel operators in the GCC region. GLNS has been set up in a joint venture by Abu Dhabi Ship Building (ADSB) with a 70% shareholding and the UK’s BVT Surface Fleet which will hold 30%. Together the companies provide a powerful combination of regional presence, established naval shipbuilding and support capability, and unparalleled experience in providing through-life naval support services.

USA Naiad Maritime Group, Inc. and VT Group plc (VT) announced Naiad Maritime Group’s completion of the acquisition of the collection of businesses known as the VT Motion Control Group, including Naiad Marine Systems, Maritime Dynamics, Vosper Motion Control and Vosper Stabilizers. The acquisition was led by John Venables, former Group President of the VT Motion Control businesses, with 27 years in various engineering and executive capacities at the companies. Venables will continue to lead the business as President & CEO of Naiad Maritime Group. Naiad Maritime Group, Inc. is comprised of Naiad Dynamics US, Inc., Naiad Dynamics UK, Limited, and Naiad Dynamics Holland, BV. It has operations in Connecticut, Maryland, Florida, and Washington, the Netherlands, United Kingdom, and Australia.

The 7,381.5 ton Daring has now completed a range of stringent trials and tests and is due to sail to her home port of Portsmouth in the UK in January 2009 to undertake several months more of trials and training before she is declared ready for operational service. The construction of Daring has involved thousands of people at shipyards on the Clyde in Scotland and at Portsmouth, using factories and businesses across the UK. "The Acceptance-off-Contract today of HMS Daring is by far the most exciting and formative milestone of the year.

The Royal Navy’s latest addition to the Type 45 destroyer fleet, to be called HMS Dragon, pulled into the Clyde from BVT’s shipyard at Govan on Nov. 17, 2008. As well as providing air defense over a wide area, including for the future aircraft carriers, the Type 45s will be able to conduct a variety of operations. They will be able to carry up to sixty Royal Marines Commandos and their equipment and operate a Chinook sized helicopter from the flight deck. “I am delighted to be here today to witness the launch of our latest destroyer Dragon.

and Rolls-Royce Marine Middle East announced an agreement to set up a Waterjet Center of Excellence in to provide support services to its customers in the Arabian Gulf Region. ADSB is the only naval shipyard in the , providing both build and support services for all Gulf Co-operation Council (GCC) naval vessels. Rolls-Royce will work with ADSB to offer services such as training, maintenance, repairs and overhauls, spare parts and service contracts for waterjet customers. These services can also be offered to Commercial Ship Owners operating vessels that have waterjet propulsion.

VT Group announced that its new shipbuilding and naval support joint venture, BVT Surface Fleet Limited, is to be the major beneficiary from the manufacturing contract signed for two new Royal Navy aircraft carriers (CVF). The CVF contract will contribute in the region of £3 billion to BVT’s order book, of which just under half will be delivered by the joint venture directly and the balance sub-contracted. CVF revenues will start to flow through BVT shortly with production of the first carrier set to start later this year. VT owns 45 percent of BVT, with the remaining 55 per cent owned by Systems. BVT, which officially started operations on July 1…

VT Group has finalized its shipbuilding joint venture with BAE Systems. Under the agreement -- the terms of which are substantially unchanged from those set out in the framework agreement in July 2007 -- the BVT Surface Fleet Ltd joint venture will be owned 45 percent by VT and 55 percent by BAE Systems. The joint venture, under which VT has an option to sell its stake to BAE for at least $745 million, is key to VT's attempts to focus entirely on support services, leaving behind its origins as a shipbuilder, Reuters said. Last July, gave the go-ahead for plans to build two aircraft carriers, triggering the deal to merge operations at BAE and VT, 's two largest shipbuilders.

The man at the helm of the biggest shipbuilding company has praised a North-East marine design facility for its efforts to tackle a skills issue that threatens to subdue the region's thriving sector, the Northern Echo said. Alan Johnston, chief executive of BVT Surface Fleet - a joint venture between BAE Systems and VT Shipbuilding - hailed the Marine Design Centre, in , as playing a potentially crucial role in recruitment and training. Source:  Northern Echo