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Home›Green Marine›Shipbuilding merger set for completion
Green Marine

February 19, 2007 · about 19 years ago

Shipbuilding merger set for completion

BAE Systems and VT Group were today reported to be close to completing a £1bn (€1.48bn) merger of their shipbuilding assets. The tie-up, which the Times newspaper said could happen in about five weeks, is being driven by the Ministry of Defence’s desire for industry consolidation ahead of a £4bn (€5

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BAE Systems and VT Group were today reported to be close to completing a £1bn (€1.48bn) merger of their shipbuilding assets.

The tie-up, which the Times newspaper said could happen in about five weeks, is being driven by the Ministry of Defence’s desire for industry consolidation ahead of a £4bn (€5.9bn) aircraft carrier project for the Royal Navy.

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