VT launching bow section of a Type 45
HISTORIC Hampshire shipbuilding name VT this morning announced it is to end an almost 150 year old association with the industry.
Instead the company, formerly Vosper Thornycroft, is to focus on its lucrative support services, which already represents 80 per cent of its £1.2 billion turnover business.
The Hedge End based company, which has roots stretching back to 1864, has already merged its Portsmouth shipbuilding interests with those of fellow Hampshire defence firm BAE Systems.
It had a 45 per cent stake in the new company, called BVT, which it is now proposing to sell to BAE for £380m in July this year.
For full story see Thursday’s Daily Echo
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