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.
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.
Rolls-Royce will continue to maintain and operate its existing reactor core manufacturing facility in Derby, while at the same time completing a phased rebuild to provide a leading-edge manufacturing facility to support future MoD programme
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
needs.
Shares in Rolls-Royce were 6p higher at 828p after two hours of trading on the day the contract win was announced.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published