21st Jul 2009 17:22
21 July 2009
Babcock International Group PLC (Babcock)
Terms of Business Agreement with Ministry of Defence
Babcock notes today's announcement by the Ministry of Defence (MoD) and reports that good progress continues to be made on the proposed Terms of Business Agreement (ToBA) between Babcock and the MoD. We expect this agreement to be signed by the end of 2009.
Through the long term partnering structures we already have in place with the MoD, Babcock has been able to ensure significant efficiency savings have been made for the Royal Navy.
The Babcock ToBA will be an overarching framework agreement covering support for the existing and future surface ship and submarine fleets and will include
waterfront support and fleet time engineering to ships and submarines operating from HM Naval Bases Clyde and Devonport
deep maintenance for ships and submarines at Devonport
management of HM Naval Bases Clyde and Devonport
Babcock is committed to working with the MoD to deliver further savings and affordable and efficient through-life support to meet the long-term operational needs of the Royal Navy.
Enquiries:
Babcock International Group PLC 020 7355 5300
Bill Tame
Terri Wright
FD 020 7269 7291
Andrew Lorenz
Sophie Kernon
Related Shares:
Babcock