VT Group takes step towards signing shipbuilding JV

VT Group, the defence and support services company, said it has taken a step towards finalising its shipbuilding joint venture with BAE Systems PLC as it reported an in-line performance in the six months to the end of December.

VT said it has received a commitment from the UK government on the proposed terms of business agreement for the partnership and negotiations with BAE continue at a ‘very advanced stage’.