12th Jul 2023 10:52
(Alliance News) - Babcock International Group PLC on Wednesday said it has been awarded a contract by the UK Ministry of Defence to support operational requirements for Ukraine's military land assets as part of the UK's support for the country.
The initial 12-month contract is worth around GBP50 million and includes options to extend. It will see Babcock provide operational support to armoured vehicles provided by the UK to the Ukrainian military, train Ukrainian personnel and manage equipment, supply chains and spares.
"We are honoured to stand with the Ukrainian and UK governments, providing critical support for Ukraine's urgent military operations. Through the relentless commitment of our teams, and supply chain partners, we will support land defence assets and equipment that Ukrainian troops can have the utmost confidence in," commented Chief Executive David Lockwood.
Babcock is a London-based defence company. Shares in the firm were up 2.5% at 279.60 pence on Wednesday morning in London.
By Heather Rydings, Alliance News senior economics reporter
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