. Military Space News .
MILPLEX
VT Group says it will sell joint venture stake to BAE Systems

by Staff Writers
 London (AFP) Jan 28, 2009
 British defence firm VT Group said Wednesday it would sell its 45-percent share in its shipbuilding joint venture, BVT Surface Fleet, to partner BAE Systems.

VT Group said in a statement it would sell the stake in July for a minimum of 380 million pounds (409 million euros, 542 million dollars).

"The Group has the right from 1 July 2009 to put its 45-percent shareholding in BVT to its joint venture partner, BAE Systems, for a minimum exit price of 380 million pounds," VT Group said.

"VT Group has decided to exercise the ... option which requires UK Ministry of Defence approval in addition to the approval of VT Group's shareholders and other regulatory bodies."

BVT Surface Fleet was created in June 2008 when BAE and VT agreed to combine their warship construction and support operations. The Ministry of Defence has already approved the sale.

"Our exit from BVT Surface Fleet later this year will enable us to refocus exclusively on expanding our core engineering based support services offerings," added VT Group Chief Executive Paul Lester in the statement.

Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
 The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com


Memory Foam Mattress Review
SPACE MEDIA NETWORK PROMOTIONS
 Solar Energy Solutions
Tempur-Pedic Mattress Comparison ...
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


MILPLEX
Russia to fully finance army despite crisis: Medvedev
 Moscow (AFP) Jan 28, 2009
 Russia will fully finance development programmes for its military despite the economic crisis, Russian President Dmitry Medvedev pledged in a meeting with navy cadets Tuesday.






SUPERPOWERS
  • Clinton calls for 'comprehensive dialogue' with China
  • China to begin projecting military around the world: analysts
  • Chinese premier ready to work with Europe
  • NATO chief hopes for new era in relations with Russia

    • NUKEWARS
  • SKorea, Japanese nuclear envoys hold talks
  • Russia drops Kaliningrad missile plans: report
  • Former Employee Pleads Guilty To Leaking Nuclear Secrets
  • Clinton urges Iran to show "willingness to engage" in talks

    • MISSILE NEWS
  • Integrated Fire Control Network Offers Access To Sensor And Any Shooter
  • Lockheed Martin Tests Tactical Missile On British Army Launcher
  • Raytheon To Upgrade Taiwan Patriot Batteries
  • Pakistan should exploit US missile strikes, say analysts

    • MISSILE DEFENSE
  • Giving Missile Defense An Extra Boost Part Three
  • When Getting MAD Does Not Work Part Two
  • Club Of Nine Gives Missile Defense A Boost Part One
  • Outside View: BMD priorities -- Part 5

    • AEROSPACE
  • New Turbines Can Cut Fuel Consumption For Business Jets
  • Air China expects to post 'significant loss' for 2008
  • Nations demand climate plan from air, maritime industries
  • Cathay defers completion of new cargo terminal due to downturn

    • UAV NEWS
  • Elbit Systems To Supply Skylark I LE Mini-UAV
  • Analysis: UAVs protect U.S. troops in Iraq
  • Analysis: Intel UAVs are here to stay
  • Boeing Laser Avenger Shoots Down Unmanned Aerial Vehicle In Tests

    • IRAQ WARS
  • Analysis: Iraq girds for landmark vote
  • Obama to speak "relatively soon" on Iraq withdrawal: Gibbs
  • Iraqi PM says US troops could pull out before deadline
  • Four US soldiers killed in Iraq helicopter crash

    • MILTECH
  • Raytheon Chosen To Help Provide US DoD Biometrics Ops And Support Services
  • Analysis: CENTCOM's software revolution
  • Game Provides Clue To Improving Remote Sensing
  • Northrop Grumman Announces First Sale Of NAVEX Air Navigation System

    • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement