The nuclear submarine business of Rolls- Royce could be nationalised if the financial crisis at the company deepens after five profit warnings in the past 20 months. The government is also considering options of merging some or all parts of Rolls-Royce with BAE Systems — UK’s largest independent aerospace and defence company. The Ministry of Defence (MoD) prepared the emergency plans in October and has a range of options, which the government could avail to protect its interests in the 100-year-old company, in the event of a hostile takeover bid by foreign investors. People familiar with the matter told Financial Times that “officials are concerned that Rolls-Royce’s management has no substantial experience of defending against hostile takeovers”.
An enormous, 1,000-tonne nuclear submarine part brought traffic to a standstill while it was slowly driven through a Cumbrian town. The cylindrical unit is the heaviest ever moved by technology and defence giant BAE Systems. Road blocks were in place while the unit was taken on its 20-minute journey from Devonshire Dock Hall to a new assembly shop in Bridge Road, Barrow. The unit will form part of an Astute class nuclearpowered submarine. The first two submarines of the seven-sub programme – HMS Astute and HMS Ambush – are already in service. Four more are in various stages of construction at Barrow -the Audacious, Anson, Agamemnon and an as-yet-unnamed submarine.
Highland MP Paul Monaghan is calling on the prime minister to be “honest and open” about a plan to ship enriched uranium from Dounreay to the United States. According to reports, the UK Government is preparing to transport 5kg of weaponsgrade material to the US government’s nuclear power complex at Savannah River in South Carolina.