United Kingdom: Serco owns a one-third share in the joint venture AWE-ML, which runs the British Atomic Weapons Establishment. It is responsible for manufacturing and maintaining the nuclear warheads for the country’s submarine fleet.
Serco Group, based in the United Kingdom, operates as a service company to governments and commercial customers worldwide. Its main business areas in public service are health, education, transport, science and defence, while private-sector customers are leading companies operating in various markets. In the financial year ended 31 December 2010, Serco generated revenues of £4.3 billion (US$6.7 billion), resulting in an operating profit of £214 million (US$331 million) and a net profit of £157 million (US$243 million).
Serco has a one-third share in the joint venture AWE-ML, the company that manages the United Kingdom’s Atomic Weapons Establishment (AWE). The AWE provides and maintains the warheads for the country’s Trident nuclear arsenal. Trident is a submarine-launched, intercontinental ballistic nuclear missile system, carried by Vanguard-class submarines.
The other partners in the joint venture are Lockheed Martin and the Jacobs Engineering. AWE’s involvement with Trident missiles covers the entire life cycle from initial concept to assessment, design, component manufacture and assembly, in-service support, and decommissioning and disposal. AWE-ML has a 25-year non-revocable contract, revised in 2003, to run the AWE programme.