BAE Strengthens Its Global Maritime Business

(November 27, 2009) -- BAE Systems acquired VT Group's 45% shareholding in BVT Surface Fleet Limited on 30 October 2009. The business is now wholly owned by BAE Systems and has been renamed BAE Systems Surface Ships Limited.

Nigel Whitehead, BAE Systems' Group Managing Director, Programmes & Support, said: "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."

BAE Systems' Surface Ships business is a leading designer, manufacturer and integrator of surface ships and their support vessels. It delivers complex engineering, integration and through-life support across the lifecycle of a ship.

Source : BAE Systems PLC (LSE: BAES.L)