Government to block sale of BAE’s submarine yard

Manufacturing News, Source : TheManufacturer.com
Published : 29 Apr 2004 10:09

The Ministry of Defence (MoD) is insisting that BAE Systems does not dispose of its submarine yard during the sale of its shipbuilding arm, citing concerns about security, according to a report in the Telegraph today.

The MoD is concerned over a change of control of Britain's only nuclear submarine builder, an unnamed MoD source said. The source told the paper that the MoD was also keen to ensure "security of supply for Britain's armed forces."

Earlier this week BAE, Europe's biggest defence company, said was viewing the possible sale of its naval shipbuilding operations. The report comes amid press speculation of a rift between the company and the MoD.

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