A BAE Systems and VT Group joint venture
Press Releases
New BVT Surface Fleet and Abu Dhabi shipbuilding joint venture to provide naval support services in Arabian Gulf
23 July 08
BVT Surface Fleet Limited, the maritime Joint Venture between BAE Systems and VT Group, and Abu Dhabi Ship Building PJSC (ADSB) today announced their intention to form a new Joint Venture Company in the United Arab Emirates (UAE) which will provide world class naval support services for customers in the Gulf Cooperation Council (GCC) Region.
A Memorandum of Understanding (MoU) was signed today by both companies’ Chief Executives containing the main points of the cooperation and the intent to have the new company established in Abu Dhabi in 2009.
Less than three weeks after the formation of BVT and the signature of the manufacturing contracts for two new aircraft carriers for the Royal Navy, the announcement is a further demonstration of the enhanced through-life naval capability provided by BVT.
The new company will be the first Joint Venture of its kind in the Arabian Gulf and will offer a range of naval support services across the full spectrum of integrated logistics support and training as well as outsourcing solutions for base facilities to support the marine fleets of navies, coast guards, marine police, homeland security organizations, special forces and other key commercial customers, not only in the UAE, but across the whole of the Gulf region.
At a press conference held in Abu Dhabi, BVT Chief Executive, Alan Johnston CBE, said “This is a significant strategic move for BVT and, once formed, the Joint Venture will greatly enhance our customer base and global footprint. It will combine our outstanding naval support experience with the world-class and complimentary capabilities of ADSB in the Gulf.
“Together, we provide a high level of expertise to address the growing demand for enhanced through-life naval support from organisations in the region”.
ADSB’s Chief Executive Officer William Saltzer said, “This joint venture between ADSB and BVT will have the local presence, capability and experience to bring a whole new level of naval fleet support to the region. Our aim is to help our GCC customers achieve both greater operational availability of their fleets and cost savings at the same time.”
Once the Joint Venture is operational, BVT and ADSB will be fully committed to the effective transfer of technologies, processes, systems and skills in the field of naval support services to the JV. This new Abu Dhabi based JV will also strive to work in close cooperation with customers in the other GCC countries and form partnerships and alliances in those countries to develop the local support capabilities needed there as well.
About BVT Surface Fleet
BVT Surface Fleet, a Joint Venture between BAE Systems and VT Group, is a leading designer, manufacturer and integrator of surface warships and their support vessels. It delivers complex engineering, integration and through-life support across the lifecycle of a warship.
With operations in Glasgow, Portsmouth and Filton near Bristol, it employs over 7,000 people and has the facilities, skills and partnerships to set the global standard in excellence as a trusted and innovative through-life surface warship partner in both the UK and export markets.
About ADSB
Abu Dhabi Ship Building, a UAE Public Joint Stock Company, was established in 1996 and operates the most modern naval shipyard on the Arabian Gulf. ADSB is the only shipyard in the region with the capability to build, refit, repair and upgrade complex naval warships.
The company is successfully providing products and related services to Navies, Coast Guards, and other military, para-military and commercial vessel operators throughout the GCC Region.
ADSB is listed on the Abu Dhabi Securties Exchange (ADX) and its current shareholding is 40% by Mubadala, 10% by the Abu Dhabi Government and 50% by several thousand individual shareholders.
Further information about BVT Surface Fleet is available at www.bvtsurfacefleet.com, or please contact:
Catherine Thurogood, BVT Surface Fleet
Tel: +44 (0) 141 957 4464 Mob: +44 (0)7801 717860
catherine.thurogood@bvtsurfacefleet.com
Charles Thompson, BVT Surface Fleet
Tel: +44 (0) 141 957 4449 Mob: +44 (0)7736 810933
charles.thompson2@bvtsurfacefleet.com
Issued by:
BVT Surface Fleet Limited
Registered in England and Wales no. 06160534
Registered office - Daring Building, Bldg 2/166, Postal Point 100, HM Naval Base, Portsmouth PO1 3NJ
