30 Jun 2008 | Ref. 197/2008
BAE Systems and VT Group today confirmed that their Joint Venture, BVT Surface Fleet (BVT) will become operational on Tuesday 1 July 2008. This follows VT shareholder approval at an Extraordinary General Meeting held (today).
BAE Systems and VT Group will have equal board representation and voting rights. BVT will employ over 7,000 people at facilities in Glasgow, Bristol (Filton) and Portsmouth. BAE Systems and VT have appointed Sir John Parker as the non-executive Chairman and Alan Johnston as Chief Executive of BVT.
About BAE Systems:
BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With 97,500 employees worldwide, BAE Systems' sales exceeded £15.7 billion (US $31.4 billion) in 2007.
For further information contact:
John Neilson, BAE Systems
Tel: +44 (0)1252 384795 Mob: +44 (0)7802 337704
john.neilson@baesystems.com
Lindsay Walls, BAE Systems
Tel: + 44 (0) 1252 383074 Mob: 44 (0) 7793 427582
lindsay.walls@baesystems.com
Issued by:
BAE Systems, Farnborough, Hampshire GU14 6YU, UK
Tel: +44 (0) 1252 384719 Fax: +44 (0) 1252 383947
24hr media hotline: + 44 (0) 7801 71773
www.baesystems.com
