VT Group plc (LSE: VTG) is a British defence and services company formerly known as Vosper Thornycroft. The Company has diversified from shipbuilding into various engineering and support services. VT Group is now involved in many areas of provision through five main operating groups: VT Communications, VT Education and Skills, VT Services Inc, VT Support Services and Shipbuilding. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Company was formed by the merger of two shipbuilding companies Vosper Limited of Portsmouth and J I Thornycroft of Woolston, Southampton in 1966 at which time the Company became listed on the London Stock Exchange as Vosper Thorneycroft.2Vosper Ltd built small boats and J I Thorneycroft had a long history of building destroyers and similar sized craft. The company was nationalised by the Labour Government in the mid 1970s becoming a division of British Shipbuilders. It became a commercial company again after a management buyout in 1985.
Vosper Thornycroft has flourished even during lean times for warship building, mainly through successful sales efforts in exports and diversification outside of the core shipbuilding business into training and support. In 2001, in their most ambitious diversification project to date, VT started work on the US$55million superyacht Mirabella V for former Avis Car Hire boss Joe Vittoria. At the time of its completion in 2004, Mirabella V was the world's largest single-masted sailing vessel with an overall length of 75 metres and a mast height of approximately 87 metres.3
The overall business has been known as VT Group plc since 2002.2
VT Communcations is split between two business units; Broadcast and Defence & Security. The former provides broadcast infrastructure and services.
VT Education and Skills
VT Education and Skills provides various services to schools such as consultancy and facilities management. It also provides training services to commercial companies. VT Education and Skills also includes the former Flagship Training joint venture with BAE Systems which provides training for Royal Navy personnel and other customers.
VT Services Inc.
VT Services Inc. is the company's United States subsidiary and has three business units; VT Aepco, VT Griffin and VT Milcom.
VT Support Services
VT Support Services operates in defence, emergency service and commercial markets. Its business units are VT Aerospace, VT Critical Services, VT Land, VT Naval Support, VT Nuclear Services and VT Environmental Engineering.
