UK retakes control of nuclear weapons contract from consortium

Britain said on Monday it would retake control of the operation of the country’s nuclear deterrent from a private consortium comprising Lockheed Martin LMT.N, Serco SRP.L and Jacobs Engineering J.N.

“The change in model will remove the current commercial arrangements, enhancing the MoD’s (Ministry of Defence) agility in the future management of the UK’s nuclear deterrent, whilst also delivering on core MoD objectives and value for money to the taxpayer,” the government said.

Serco earlier on Monday said the consortium would lose the contract.