BAE Systems announced that it has purchased VT Group’s 45% shareholding in BVT Surface Fleet Limited (BVT), making BVT a wholly-owned subsidiary of BAE Systems. BVT will be renamed BAE Systems Surface Ships Limited.
Nigel Whitehead, BAE Systems’ Group Managing Director, Programmes & Support, said of the acquisition, “Bringing BVT into full ownership of BAE Systems further strengthens our global maritime business and is consistent with our strategy to establish a sustainable and profitable through life business in air, land and sea. Surface Ships has a solid order book, a clear strategy to transform the UK maritime sector and a commitment to deliver existing and future programmes. Our 15 year Terms of Business Agreement with the UK Ministry of Defence will sustain key industry capabilities in the UK and provides a strong platform on which to build future domestic and international business.”