Babcock International Group PLC
25 July 2005
Date: 25 July 2005
Contacts:
Franco Martinelli Andrew Lorenz/Richard Mountain
Babcock International Group PLC Financial Dynamics
Telephone: +44 (0)20 7291 5000 Telephone: +44 (0)20 7269 7291
BABCOCK EXITS NON-CORE HEALTH & SAFETY TRAINING BUSINESS
Babcock International Group PLC ('Babcock') is pleased to announce the sale of
the Pivotal Services Group, the health and safety training and product supply
business, to Hire Station Limited, a subsidiary of Vp plc, for cash
consideration of £4.5 million.
Pivotal Services was a subsidiary of the Peterhouse Group acquired by Babcock in
June 2004 and formed part of Babcock's non-core Health, Safety and Environmental
business. The business generated sales of £7.9 million in the period to 31 March
2005.
Commenting on the sale, Peter Rogers, Chief Executive of Babcock said
'We are now well on the way to completing the exit from the health, safety and
environment businesses. Pivotal was not a core business for Babcock and its
future should be more secure with Vp plc who have an excellent reputation in the
health and safety equipment and training markets.'
- ends -
Notes to editors:
About Babcock International Group PLC
Babcock International Group PLC is an asset management business. We manage fixed
infrastructure and mobile assets. Babcock integrates labour, technical
capabilities, systems and supply chain partners to meet the outsourcing needs of
customers for 'mission-critical' capabilities.
In the year to 31 March 2005 sales from continuing business were £760 million.
In June 2004 Babcock acquired the Peterhouse Group which brought; Rail, Networks
and Health, Safety and Environmental to the Group.
The Group operates across five core business segments:
Defence Services, supplying facilities management, equipment support and
training services to the armed forces.
Technical Services, providing engineering and logistical support to both the
defence and civil sectors in the UK.
Engineering and Plant Services supplying design, installation and maintenance
support to the energy sector in Africa and the US. It also holds the Volvo
franchise for construction equipment in Southern Africa.
Rail, providing design, renewal and installation services for the UK rail
infrastructure.
Networks, supporting the design, maintenance and renewal of power transmission
and cellular telecommunications networks in the UK.
Babcock's head office is in London and the Company's shares are quoted on the
London Stock Exchange in the support services sector (EPIC:BAB). For further
information, please visit Babcock's website at www.babcock.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
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