HII and Babcock International Group Create Strategic Partnership to Explore Global Opportunities
July 17 2023 - 6:00AM
HII (NYSE: HII) and Babcock International Group have entered into a
strategic agreement to collaborate on naval and civil nuclear
decommissioning and construction opportunities in the U.K. and U.S.
HII and Babcock will apply their complementary capabilities to
existing nuclear decommissioning contracts for U.S. ships and U.K.
submarines, to share best practices and provide the opportunity to
upskill and enhance both organizations’ capability for the benefit
of the U.S. and U.K. programs.
The Memorandum of Understanding also identifies opportunities
for cooperation in civil nuclear, including power plant and
component design, fabrication and construction in North America and
the U.K. For Babcock, this will include leveraging the capability
of its wholly-owned subsidiary, Cavendish Nuclear, a leader in the
U.K. nuclear civil industry across the nuclear lifecycle.
“As we expand our presence globally this is an important
agreement to leverage more than 60 years of HII expertise in
complex nuclear processes on behalf of civil and defense
customers,” said Chris Kastner, president and CEO of HII. “We are
excited to explore with Babcock potentially promising opportunities
for both companies.”
“This collaboration supports our expanding global reach and
capability,” said David Lockwood, CEO of Babcock. “We look forward
to working with HII to realize the benefits that our collaboration
can bring to the nuclear programs in the U.K., U.S. and
beyond.”
HII and Babcock will also explore how their combined capability
as global leaders in defense can be applied in support of the
Australia – United Kingdom – United States (AUKUS) programs.
About HII
HII is a global, all-domain defense provider. HII’s mission is
to deliver the world’s most powerful ships and all-domain solutions
in service of the nation, creating the advantage for our customers
to protect peace and freedom around the world. As the nation’s
largest military shipbuilder, and with a more than 135-year history
of advancing U.S. national security, HII delivers critical
capabilities extending from ships to unmanned systems, cyber, ISR,
AI/ML and synthetic training. Headquartered in Virginia, HII’s
workforce is 43,000 strong. For more information, visit:
- HII on the web: https://www.HII.com/
- HII on Facebook: https://www.facebook.com/TeamHII
- HII on Twitter: https://www.twitter.com/WeAreHII
- HII on Instagram: https://www.instagram.com/WeAreHII
About Babcock International Group
Babcock is an international defense company providing a range of
products and service solutions to enhance our customers’ defense
capabilities and critical assets. Our business is underpinned by a
deep understanding of technology integration and engineering,
infrastructure management and specialist training. We help our
customers around the world to cost effectively improve the
capability, reliability and availability of their most critical
assets.www.babcockinternational.com
Contacts: Greg McCarthyHII+1 (202)
264-7126gregory.j.mccarthy@hii-co.com
Kate HillBabcock Group+44 (0)7899 792991
Andrew GollanBabcockGroup Director of Investor Relations+44
(0)7936 039004
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