Babcock JV Wins AUD1.5 Billion Contract With Australian Navy
December 03 2018 - 2:44AM
Dow Jones News
By Adam Clark
U.K. engineering company Babcock International Group PLC
(BAB.LN) said Monday that its Naval Ship Management joint venture
has been awarded a 1.5 billion-Australian dollar ($1.1 billion)
contract by the Australian government.
The contract is for an initial five years, with the expectation
of two further five-year extensions. Naval Ship Management will
provide support services to the Australian navy's flagship Canberra
Class Landing Helicopter Docks and their landing craft from July
2019.
Babcock holds an equal stake in Naval Ship Management with
Australia's UGL Ltd, owned by CIMIC Group Ltd. (CIM.AU).
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
December 03, 2018 02:29 ET (07:29 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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