BAE Gets GBP2.4 Billion MoD Contracts for Royal Navy Submarine Programs
May 14 2018 - 5:11AM
Dow Jones News
By Ian Walker
BAE Systems PLC (BA.LN) said on Monday that it has been awarded
a 2.4 billion-pound ($3.26 billion) contract by the British
Ministry of Defense for Royal Navy submarine programs.
The company said it has been granted a GBP1.5 billion contract
for the seventh Astute class submarine and a further GBP900 million
for the next phase of the Dreadnought submarine program.
BAE said work on the seventh submarine started in 2014, while
the fourth, fifth and sixth submarines are also under various
stages of construction, having been previously awarded full
contracts.
Dreadnought submarines carry the U.K.'s independent nuclear
deterrent. They are being delivered by the newly formed Dreadnought
Alliance, a joint-management team established between the MoD, BAE
Systems and Rolls-Royce Holdings PLC (RR.LN).
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 14, 2018 05:56 ET (09:56 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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