LONDON (ShareCast) - BAE Systems and VT Group confirmed that their shipbuilding joint venture, BVT Surface Fleet (BVT) will become operational Tuesday.
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.