BAE Systems Wins U.K. Maritime Support Program Contracts Worth GBP1.3 Billion

By Anthony O. Goriainoff

BAE Systems PLC said Friday that it has secured two contracts worth up to 1.3 billion pounds ($1.79 billion) over five years with the U.K.'s Ministry of Defense.

The U.K. defense-and-aerospace company said the contracts were part of the MoD's Future Maritime Support Program competition, and that they will start on Oct. 1 following a transition period.

BAE said it will continue to deliver ship asset management, repair and maintenance for the entire Portsmouth flotilla under a GBP900 million contract.

The company said it will also establish a joint venture with infrastructure asset management and services company KBR Inc.--to be called KBR Maritime--to deliver technology-led and data-driven facilities management and dockside services at the base, under a GBP365 million contract.

"We're excited by the opportunity to continue delivering transformation alongside KBR and other new service providers to support the Royal Navy at Portsmouth, mitigating environmental impact of operations, whilst maintaining critical military outputs," the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

April 01, 2021 19:15 ET (23:15 GMT)

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