Babcock International Group PLC
03 March 2003
Date: 3rd March 2003
Contact: Gordon Campbell, Group Executive Chairman
Babcock International Group PLC
Telephone: 020 7291 5000
Richard Mountain
Rob Gurner
Financial Dynamics
Telephone: 020 7269 7221
Babcock led consortium selected as
Sole Bidder for RSME Contract
Babcock International Group PLC, the support services company, is pleased to
announce that Holdfast Training Services has been selected as the sole bidder
for a major contract to provide training and support to the Royal School of
Military Engineering ('RSME'). The contract will run for 30 years and Babcock's
share is expected to be around £1 Billion. Holdfast Training Services is 48%
owned by Babcock with 26% owned by each of Atkins plc and Mowlem plc
As sole bidder, Holdfast will enter into exclusive final negotiations with the
RSME Project Board and undertake a Collaborative Affordability Feasibility Study
('CAFS'). This CAFS is expected to be completed within three months.
Further details on the contract will be given following completion of the CAFS.
- ENDS -
Notes to editors:
About Babcock International Group PLC
Babcock International Group PLC is a support services business providing
technical services, training and facilities management to the defence and civil
sectors. In the year to 31 March 2002 sales from continuing business were
£358.9 million.
The Group operates in three principal sectors: Technical Services (engineering
and support services in defence, rail, marine and secure facilities sectors),
Training & Support (support services, training and facilities management for the
defence and civil sectors) and Materials Handling (material processing
technologies and engineered systems). The Group is currently in the process of
disposing of the Material Handling division as part of Babcock's strategy to
focus on the support services market and, in the process, enhance shareholder
value.
Babcock's head office is in London and the Company's shares are quoted on the
London Stock Exchange. 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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