BAE Systems secures £257 million contract for final phase of Vanguard-class 'successor' submarine design
BAE Systems has been awarded additional funding of £257M to cover the final phase of work to design a successor to the Royal Navy's Vanguard class submarines, the company said in a press release.
The contract will sustain the jobs of more than 1,400 employees working at BAE Systems on a programme that has already engaged with more than 240 suppliers.
This follows previous contracts awarded to BAE Systems in 2012 valued at £328M and £315M to commence initial design.
The contracts fund the next stage of design work for the new class of submarines, designed to carry the UK's independent nuclear deterrent. The programme recently passed a major design review and is now more than halfway through its five-year Assessment Phase.
Approximately 6,500 people are employed at BAE Systems' site in Barrow, where the Company is also building the Astute class - seven state-of-the-art nuclear-powered attack submarines for the Royal Navy. Last year, the Company created 900 skilled jobs and recruitment is set to continue throughout 2015.
BAE Systems Ship Repair is a leading non-nuclear ship repair, modernization, and overhaul business, which serves the U.S. Navy and other government agencies, as well as commercial, private and government customers. BAE Systems Ship Repair offers a highly skilled and experienced workforce of more than 5,000 employees, dry docks and pier space, and ship support services across strategic locations in Norfolk, Virginia; San Diego and San Francisco, California; Jacksonville and Mayport, Florida; Mobile, Alabama; and Pearl Harbor, Hawaii.