ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

BAB Babcock International Group Plc

510.50
-6.00 (-1.16%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Babcock International Group Plc LSE:BAB London Ordinary Share GB0009697037 ORD 60P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.00 -1.16% 510.50 512.00 513.50 520.00 511.50 520.00 758,408 16:35:07
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services 4.44B -35M -0.0692 -74.06 2.59B

Babcock International Group PLC Contract Award (7363W)

16/11/2017 2:00pm

UK Regulatory


Babcock (LSE:BAB)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Babcock Charts.

TIDMBAB

RNS Number : 7363W

Babcock International Group PLC

16 November 2017

16 November 2017

Babcock International Group PLC (Babcock or the Group)

Babcock awarded three contracts to provide technical support services to UK's Royal Air Force

Babcock, a leading engineering services company, has been awarded three significant new regional contracts by the UK Ministry of Defence under the Technical Support Services Provision (TSSP) for 17 sites across the whole of the UK. Worth a total around GBP160 million for the first five years for all three regions, with options for a further two one-year extensions which could increase the value to around GBP220 million, the TSSP contracts include the provision of aircraft maintenance and operations, airfield support and operations, vehicle fleet logistics, together with specialist armoury and engineering support.

The contracts, won through a competitive tender process, are expected to see around 850 staff transferring into Babcock under TUPE regulations. Babcock's programme will support over 19 separate services and almost 5,000 requirements to Single, Joint and Tri Services.

Babcock Chief Executive Archie Bethel said:

"I am delighted Babcock has been selected to deliver this critical service across the RAF operational estate. These contracts cement our position as a key support partner to the RAF. We will deliver excellent integrated service capability as well as significant cost savings to our customer."

Defence Minister Harriett Baldwin said:

"We are investing this GBP160m in ensuring these RAF bases across the country continue to get the expert support they deserve, servicing equipment for the frontline and supporting our world-beating capability across the board. This pragmatic approach will ensure we are looking after our famous air force at home, as they protect our interests both here and around the globe."

Babcock already provides support to a small number of stations across all of the regions but these new contracts expand that coverage across the UK. The three regions cover the following RAF stations:

 
 Region 1          RAF Valley, RAF Shawbury, RAF Cosford 
  Wales and West    and AAC Middle Wallop 
  Midlands: 
----------------  ------------------------------------------ 
 Region 2          RAF Wyton, RAF Henlow, RAF Halton, 
  South East        RAF High Wycombe and RAF Northolt 
----------------  ------------------------------------------ 
 Region 3          RAF Buchan, RAF Boulmer, RAF Fylingdales, 
  Scotland and      RRH Staxton Wold, RAF Linton-on-Ouse, 
  North East:       RAF Scampton, RAF Cranwell and 
                    RAF Neatishead 
----------------  ------------------------------------------ 
 

ends

Enquiries

 
 Babcock International 
  Group PLC               020 7355 5300 
 Franco Martinelli 
 Kate Hill 
 
 FTI Consulting           020 3727 1340 
 Andrew Lorenz 
 Nick Hasell 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTFFFFEMFWSELF

(END) Dow Jones Newswires

November 16, 2017 09:00 ET (14:00 GMT)

1 Year Babcock Chart

1 Year Babcock Chart

1 Month Babcock Chart

1 Month Babcock Chart

Your Recent History

Delayed Upgrade Clock