Rolls-Royce will refurbish its Derby manufacturing plant and build naval reactors for new submarines in the UK under a $1.6 billion contract announced Monday.The rebuilt factory will build reactor cores for a new class of craft planned to replace the Vanguard subs carrying Trident nuclear missiles."This is excellent news that demonstrates the high level of trust the [Ministry of Defence] has in both our technology and the expertise of our highly skilled workforce. This new facility will deploy advanced manufacturing techniques to enhance our world leading nuclear manufacturing capability," Jason Smith, Rolls-Royce chief operating officer, said in a company release.Rolls-Royce has been the sole provider of propulsion systems for Royal Navy submarines for 50 years.