Maritime Strategic Capabiliti

RNS Number : 5888C

QinetiQ Group plc

03 September 2008

 



QinetiQ Group plc 

03 September 2008 

QinetiQ awarded 15-year £150m maritime facilities contract by Ministry of Defence

QinetiQ today announces it has signed a new contract, the Maritime Strategic Capabilities Agreement (MSCA), with the Ministry of Defence (MOD) securing a revenue stream worth more than £150m over the next 15 years.  This award extends QinetiQ's existing contracts with the MOD for these services.  

The MSCA gives the MOD, other government and commercial customers access to QinetiQ's maritime facilities and expertise for optimising anything that moves in or on water including ships, divers and tidal turbines.

QinetiQ's existing maritime facilities in Gosport, Hampshire including the ocean basin (the largest freshwater tank in Europe) and ship tank, which are used to assess the design of ships, submarines and tidal turbines, as well as a hyperbaric medicine unit, form part of the contract.  The agreement also includes a shock test facility at Rosyth in Scotland.

Baroness Taylor, Minister for Defence Equipment & Support, said: 'Today's contract with QinetiQ will provide access to advanced modelling of submarine hull forms for the MOD's future submarine programme, and hydrodynamic facilities for the detailed testing of the innovative hull to be used by the Royal Navy's new aircraft carriers.'

Graham Love, QinetiQ's chief executive officer said: 'We are delighted to be able to build further on our existing relationship with the MOD through delivery of these key services and essential facilities. Through the MSCA, QinetiQ will continue to deliver critical facilities that help the Royal Navy save lives, time and money.  In common with the Long Term Partnering Agreement, signed in February 2003, we are now able to attract additional commercial business to these facilities enabling us to drive down UK marine research costs while developing environmentally-friendly technologies in sectors such as tidal power generation.'

ENDS

Notes to Editors:

QinetiQ (pronounced 'kinetic') is a leading international defence and security technology company with over 8,000 employees in EMEA (Europe, Middle East and Australasia) and more than 5,500 in North America. 

QinetiQ's vision is to be the world's leading provider of defence and security based technology solutions and services. 

In February 2006, QinetiQ Group plc was listed on the London Stock Exchange and joined the FTSE250 in June 2006. In the year to 31 March 2008, QinetiQ delivered a 19 per cent increase in revenue to £1,366m, including organic growth of 8.6 per cent, and a 20 per cent increase in underlying operating profit to £127m. Underlying earnings per share increased by 19% to 13.4p per share.  

Further Enquiries: 

QinetiQ Group plc 

Ben Lewis, Investor Relations, Tel: [phone] 

David Bishop, Media Relations, Tel: [phone]

Chris Barrie, Citigate Dewe Rogerson, Tel: [phone]

 

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