ID :
72565
Tue, 07/28/2009 - 15:15
Auther :
Shortlink :
https://m.oananews.org//node/72565
The shortlink copeid
BVT and Abu Dhabi Ship Building form Abu Dhabi naval support joint venture
Abu Dhabi, July 28, 2009 (WAM)- BVT Surface Fleet, the maritime joint venture between BAE Systems and VT Group, have formed a joint venture in the United Arab Emirates (UAE) with Abu Dhabi Shipbuilding to provide world class naval support services for customers in the Gulf Cooperation Council (GCC) Region, Egypt and Jordan.
The new company, Gulf Logistics and Naval Support LLC (GLNS), will be the first company of its kind in the Arabian Gulf and will offer a range of naval support services across the full spectrum of integrated logistics support and training as well as outsourcing solutions for base facilities to support the marine fleets of navies, coast guards, marine police, homeland security organizations, special forces and other key commercial customers.
The announcement follows the Memorandum of Understanding signed by BVT and ADSB on 20 July 2008. Since then, both companies have been working together to develop and finalize the necessary legal documents, prepare financial and operational business plans and form the organizational structure to allow this new company to begin operations immediately with the support of their two shareholders.
GLNS will initially be 70% owned by ADSB and 30% by BVT, with provisions that may allow BVT to increase its holding to 40% in the future. Both companies are fully committed to the effective transfer of technologies, processes, systems and skills in the field of naval support services to GLNS. It will initially employ approximately 90 people, including secondees from BVT. This number is expected to grow significantly as the business grows.
The new company, Gulf Logistics and Naval Support LLC (GLNS), will be the first company of its kind in the Arabian Gulf and will offer a range of naval support services across the full spectrum of integrated logistics support and training as well as outsourcing solutions for base facilities to support the marine fleets of navies, coast guards, marine police, homeland security organizations, special forces and other key commercial customers.
The announcement follows the Memorandum of Understanding signed by BVT and ADSB on 20 July 2008. Since then, both companies have been working together to develop and finalize the necessary legal documents, prepare financial and operational business plans and form the organizational structure to allow this new company to begin operations immediately with the support of their two shareholders.
GLNS will initially be 70% owned by ADSB and 30% by BVT, with provisions that may allow BVT to increase its holding to 40% in the future. Both companies are fully committed to the effective transfer of technologies, processes, systems and skills in the field of naval support services to GLNS. It will initially employ approximately 90 people, including secondees from BVT. This number is expected to grow significantly as the business grows.
