Rolls-Royce in submarine deal with the MoD

Power systems developer Rolls-Royce has bagged a bumper contract with the Ministry of Defence (MoD) to supply reactor cores for the UK's nuclear-powered submarine fleet.

In a deal worth more than £1bn the UK engineering colossus will also undertake to spruce up the current Rolls-Royce submarine reactor core manufacturing facility in Derby.

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Shares in Rolls-Royce were 6p higher at 828p after two hours of trading on the day the contract win was announced.

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