17th Feb 2016 10:06
LONDON (Alliance News) - Babcock International Group PLC on Wednesday said the UK's Ministry of Defence has confirmed its decision to award the company a six-year contract for the provision and management of its white fleet of vehicles.
"The Phoenix II contract, which is subject to an obligatory standstill period of no less than 10 calendar days, replaces Babcock's existing Phoenix I contract which was awarded in 2011," Babcock said.
The new contract is expected to come into effect on February 29. No financial details on the award were disclosed.
Shares in the engineering and support services company were up 2.3% at 913.50 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Babcock