25th Nov 2013 06:44
LONDON (Alliance News) - Following media speculation, UK-based engineering support services company Babcock International Group PLC confirmed Sunday that it is in exclusive discussions regarding the establishment of a joint venture with Avincis, a provider of aviation services for mission-critical operations.
A 24-hour company, London-based Avincis is trained and equipped to handle any emergency. It caters to operations such as medical emergency, civil protection, search and rescue, coast and city surveillance, firefighting and energy support services.
Babcock said this initiative is in line with its strategy to grow from its position as the UK's leading engineering support services company in both the UK and overseas.
The company added that there could be no certainty that these discussions would lead to any transaction or any certainty as to the terms upon which any such transaction might proceed.
A further announcement would be made if and when appropriate, the firm added.
Avincis also confirmed the talks in a separate statement.
BAB.L closed down 0.6% on Friday at 1,325.00 pence.
Copyright RTT News/dpa-AFX
Related Shares:
Babcock