Support services and shipbuilding company
VT Group(VT) has strengthened its
business with the acquisition of
MILCOM Systems Corporation(MILCOM) for a debt free cash consideration of $42.5m.
According to VT, MILCOM is expected to generate revenues in excess of $100m and a profit margin of approximately 5% for the full 2007 calendar year.
Based in
The majority of work is for the US Department of Defense, including installing and servicing Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems across a range of US Navy ships and submarines. MILCOM is also an established supplier to the homeland security and military air traffic control markets.
In April 2006 MILCOM was awarded a C4ISR performance based contract with the Space and Naval Warfare (SPAWAR) Center in
VT Chief Executive Paul Lester commented: ‘MILCOM will considerably strengthen the quality of our technical services in the
MILCOM employs more than 800 people and joins VT Group’s
segment VT Services.
Engineering industry reacts to Reeves' budget
I´d have to say - ´help´ - in the longer term. It is well recognised that productivity in the UK lags well behind our major industrial competitors and...