Babcock International Group PLC
23 March 2005
23 March 2005
Babcock International Group PLC
Holdfast consortium preferred bidder for
Royal School of Military Engineering PPP
Babcock International Group PLC (Babcock), the support services company, is
pleased to announce that the Ministry of Defence have confirmed the Babcock-led
joint venture, Holdfast Training Services (Holdfast) as Preferred Bidder for the
major Private Finance Initiative contract to provide training, infrastructure
and support to the Royal School of Military Engineering (RSME). Babcock's share
of this contract is expected to be worth approximately £1 billion over 30 years.
Holdfast anticipates that the contract will reach financial close in the first
half of 2006.
Holdfast is 48% owned by Babcock with 26% owned by each of WS Atkins plc and
Mowlem plc
RSME carries out training for combat engineering, construction engineering, and
under the command of the Defence College of Logistics, explosive ordnance
disposal and search.
For further details please contact:
Babcock International Group PLC
Peter Rogers, Chief Executive 020 7291 5000
Financial Dynamics
Rob Gurner 020 7269 7291
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 2004 sales from continuing business were £438
million.
The Group operates in two principal sectors: Technical Services (engineering and
support services in defence, rail, marine and secure facilities sectors) and
Training & Support (support services, training and facilities management for the
defence and civil sectors).
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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