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BAB - Babcock International News Story

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Last Trade - 25/02/20

Sector
Industrials
Size
Mid Cap
Market Cap £2.44bn
Enterprise Value £4.41bn
Revenue £4.41bn
Position in Universe 262nd / 1834

Babcock Intnl Group - Contract for Australian Future Submarine programme

Mon 25th November, 2019 12:41pm
RNS Number : 5634U
Babcock International Group PLC
25 November 2019
 

25 November 2019

Babcock International Group PLC (Babcock or the Company) 

Babcock secures contract for Australia's Future Submarine programme

 

Babcock has won a contract to design and build the weapons handling system for Australia's new Attack class submarines. The Group's contract with Naval Group, announced today by the Australian Ministry of Defence, will support the operation and sustainment of the future submarines, including managing the involvement of the local supply chain in the manufacture, supply and assembly of critical components for the weapons handling system.

The Australian Government's AU$50 billion programme will see 12 Attack class submarines designed and built for the Australian Navy. Babcock's role is expected to be worth around £1 billion over the lifetime of the programme. Work on the design will begin immediately.

While the preliminary design phase of the weapons system will commence in Bristol, United Kingdom, this work will initiate a transfer of skills and Intellectual Property to Babcock's Australian business, which will act as the Engineering Design Authority for the project.

 

This win adds to Babcock's well-established Australian supply-chain, which has been supporting the Collins weapons system for more than 20 years.


Babcock CEO Archie Bethel said: "I am delighted that Babcock will play a significant role in Australia's future submarine programme. The ability to transfer our unique Babcock IP, know-how and expertise internationally across the Group allows us to play an increasing role in ensuring the defence of countries around the world."

ends

 

 

For further information please contact:

Babcock International Group PLC


Simon McGough

Kate Hill

Group Investor Relations

Group Director of Communications

Tel: +44 (0)20 3823 5592

Tel: +44 (0)20 7355 5312



FTI Consulting


Andrew Lorenz


Nick Hasell


Alex Le May


Tel: +44 (0)20 3727 1340


 


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