Following the announcement on 21 September 2010 regarding the disputed Offshore Patrol Vessel contract with the Government of the Republic of Trinidad and Tobago (GORTT), BAE Systems and GORTT have reached agreement on a settlement.
The three Offshore Patrol Vessels that were the subject of the GORTT contract were subsequently sold to the Brazilian Navy under a contract signed in December 2011 and the first ship was handed over to the Brazilian Navy in June this year.
The settlement with GORTT is at an amount consistent with provisions held.
[mappress]
Press Release, November 14, 2012