Tim Ripley
UK Defence Secretary Geoff Hoon yesterday announced the government is to proceed with the privatisation of two-thirds of the Defence Evaluation and Research Agency (DERA). "We now have a way forward which is good for DERA, the MoD and the wider UK economy," says Hoon. "We have consulted particularly closely with our international collaborative partners, including the US Department of Defence, which stressed how much the US looks forward to continued strong and effective interaction in defence research co-operation.
"DERA is expected to be split into two around the end of the year, says Hoon. This will be followed by a rigorous period of shadow operation to demonstrate the robustness of the new organisations. Flotation on the Stock Market will take place as soon as its potential is suitably developed.
Source: Flight Daily News