VT Order Book Expands

According to the Financial Times, VT has seen its order book rise to about $7.93b on the back of several contract wins. The company said its financial performance was in line with its expectations for the period to the end of December 2007. The order book increased to about $7.93b on the back of two recent acquisitions. Talks with BAE Systems to form a shipbuilding joint venture remained at an advanced stage, VT said. The companies have now received a commitment from the government on the proposed terms of a business agreement for the partnership, seen as crucial for it to go ahead. However, the signing of the joint venture hinges on final approval from the Ministry of Defence for the start of construction of two new aircraft carriers for the Royal Navy. Source: The Financial Times