Wednesday, February 13, 2013 2:55 pm
UK gives Rolls-Royce $1.2B submarine contract
The Associated Press
The defense ministry said Wednesday that the 10-year contract will help sustain around 2,000 jobs around the U.K. and is expected to save around 200 million pounds ($310.9 million).
It said the deal will have Rolls-Royce deliver and maintain the nuclear power source for the Royal Navy's Astute Class and future Successor deterrent submarines.
Minister for Defense Equipment, Support and Technology Philip Dunne called the contract a "better deal" for taxpayers, saying that Rolls-Royce's work in producing submarine propulsion systems is "an important national strategic capability" and is necessary to meet present and future U.K. defense needs.