http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=1140216LONDON (SHARECAST) - Support services and shipbuilding company VT Group said its 50-50 joint venture with BAE Systems, Flagship Training, has enhanced its contract with the Royal Navy, worth a further Â£120m over the next five years.
Flagship has revised the details of its agreement with the Royal Navy by extending the contract by a further 21 months to 2013.
It will include designing and assisting with a range of training courses for the Royal Navy, which will involve transferring around 350 instructors and training support services staff directly to Flagship.
"This contract strengthens Flagship's role as the RN's training partner. With a considerable footprint in Army and RAF training, we are now the leader in UK military training and this is set to grow further through the UK Military Flying Training System," said chief executive Paul Lester