We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 |
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 Month Babcock Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions