From Defence News.com:
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Twenty years ago, seven major naval shipbuilding companies operated around Britain’s coastline and rivers. That number will shrink to just one if BAE Systems and the VT Group commit to proposals to merge the three U.K. yards that still build surface warships.
Industry insiders said the deal would likely split ownership evenly between the two companies, but give BAE control with more than 50 percent of the voting rights.
The deal would create a business spanning BAE’s two surface shipyards at Scotstoun and Govan in Scotland, and the VT facilities at Portsmouth. Fleet Support is included in the deal. The BAE/VT joint venture company runs the Portsmouth Navy base in partnership with the Royal Navy, and also repairs and upgrades naval and commercial vessels.