23rd Mar 2005 07:00
Babcock International Group PLC23 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, ispleased to announce that the Ministry of Defence have confirmed the Babcock-ledjoint venture, Holdfast Training Services (Holdfast) as Preferred Bidder for themajor Private Finance Initiative contract to provide training, infrastructureand support to the Royal School of Military Engineering (RSME). Babcock's shareof this contract is expected to be worth approximately £1 billion over 30 years.Holdfast anticipates that the contract will reach financial close in the firsthalf of 2006. Holdfast is 48% owned by Babcock with 26% owned by each of WS Atkins plc andMowlem plc RSME carries out training for combat engineering, construction engineering, andunder the command of the Defence College of Logistics, explosive ordnancedisposal and search. For further details please contact: Babcock International Group PLCPeter Rogers, Chief Executive 020 7291 5000 Financial DynamicsRob Gurner 020 7269 7291 Notes to editors: About Babcock International Group PLC Babcock International Group PLC is a support services business providingtechnical services, training and facilities management to the defence and civilsectors. In the year to 31 March 2004 sales from continuing business were £438million. The Group operates in two principal sectors: Technical Services (engineering andsupport services in defence, rail, marine and secure facilities sectors) andTraining & Support (support services, training and facilities management for thedefence and civil sectors). Babcock's head office is in London and the Company's shares are quoted on theLondon Stock Exchange. For further information, please visit Babcock's websiteat www.babcock.co.uk. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Babcock