Babcock International JV Gets MoD Contract

LONDON--Babcock International Group PLC (BAB.LN) said Friday its joint venture company Ascent Flight Training Ltd. has been awarded a contract by the U.K.'s Ministry of Defense to deliver the rotary wing element of the U.K. military flying training system.

The total revenue value of the contract to Babcock will be around 0.4 billion pounds ($0.58 billion), the supplier of support services to U.K. armed forces and other non-military customers said.

The contract includes the delivery of Airbus H135 and H145 training aircraft, and the installation of new infrastructure and ground-based equipment, Babcock said.

Ascent, a 50/50 joint venture between Babcock and Lockheed Martin, is responsible for delivering the U.K. military flying training system through to 2033, in partnership with the MoD.

Shares at 0705 GMT up 8 pence, or 0.82%, at 987.5 pence.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 20, 2016 03:20 ET (07:20 GMT)

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