MoD to set sail with Babcock on £340m Navy warships deal

(c) Sky News 2017: <a href="http://news.sky.com/story/mod-to-set-sail-with-babcock-on-163340m-navy-warships-deal-10822448">MoD to set sail with Babcock on £340m Navy warships deal</a>
 

The FTSE-100 company Babcock In‎ternational will this week set sail towards a prestigious £340m deal providing support services to the Royal Navy's fleet of warships.

Sky News has learnt that Babcock will announce to the London Stock Exchange (Other OTC: LDNXF - news) on Monday that it has been selected as the Ministry of Defence's (MoD) preferred bidder for the contract after seeing off stiff competition ‎from rivals.

Clinching the Marine Systems Support Partner deal will deliver a major boost to the British company and its partners.

The announcement will come just days after shares in Babcock were hit after the company said it would end its nuclear reactor clean-up contract prematurely because of a botched Government procurement process.

That development reduced the value of Babcock's pipeline by roughly £800m - but just under half that sum will be recouped from the new warship deal to be announced on Monday.

One defence industry source said this weekend that the latest contract win for Babcock would rank among its most important MoD partnerships, providing ongoing support to a large fleet of vessels over a seven-year period.

The ships included in the arrangement will include the Royal Navy's latest Type 45 Destroyers, which have been ‎plagued by a range of technical problems.

All six of the Type 45 fleet, which includes HMS Daring and HMS Dragon, are due to have their engines replaced.

Babcock, which will report its full-year results towards the end of May, is expected to sign a formal contract with the MoD‎ in about six weeks, an insider said.

The company said last week that the termination of its Nuclear Decommissioning Authority agreement would have no negative financial impact‎ over the next three years.

It is likely to give a further update on its new pipeline of contracts alongside its results.

Babcock and the MoD both declined to comment on Sunday.

  • China vows to protect interests as US eyes trade sanctions
    News
    AFP

    China vows to protect interests as US eyes trade sanctions

    China on Saturday warned it would take necessary measures to protect its interests if the US imposes tough trade sanctions against its steel and aluminium exports.

  • Drivers Get Stuck In Sand Trying To Escape Closed Freeway After Major Crash Kills Five in California
    News
    Newsweek

    Drivers Get Stuck In Sand Trying To Escape Closed Freeway After Major Crash Kills Five in California

    A major semitrailer crash killed at least five in Rialto, California, after the driver lost control of the vehicle on a freeway Friday. The incident took place California's 10 freeway. The Interstate 10 is pictured.

  • Theresa May Warns 'Deep-Seated Ideology' Mustn't Jeopardise Post-Brexit Security
    News
    HuffPost UK

    Theresa May Warns 'Deep-Seated Ideology' Mustn't Jeopardise Post-Brexit Security

    Theresa May has warned EU leaders that “deep-seated ideology” must not jeopardise security cooperation after Brexit. The prime minister said the UK take full control over areas like diplomacy, peacekeeping, defence before the end of any implementation period to follow its departure of the EU. In a speech at the Munich Security Conference on Saturday, May said: “We must do whatever is most practical and pragmatic in ensuring our collective security.

  • Mounting fury as holidaymakers have to pay to access Pyrenees 
    News
    The Telegraph

    Mounting fury as holidaymakers have to pay to access Pyrenees 

    Mounting fury as holidaymakers have to pay to access Pyrenees 

  • Kat uncovers Robbo's shocking secret
    News
    Digital Spy

    Kat uncovers Robbo's shocking secret

    Can they ever move on from this?

  • After Florida Shooting, Man Gives AR-15 to Police Because He Doesn't 'Need It'
    News
    Newsweek

    After Florida Shooting, Man Gives AR-15 to Police Because He Doesn't 'Need It'

    Ben Dickmann, a resident of Tarmac, Florida, turned in his AR-57, a variant of the AR-15, to the Broward Sheriff's Office on Friday –– in the same county where a gunman killed teachers and children at Marjory Stoneman Douglas High School on Wednesday.

  • Great Portland Street fire: 50 firefighters tackle blaze in central London
    News
    Evening Standard

    Great Portland Street fire: 50 firefighters tackle blaze in central London

    Firefighters are battling at "huge" blaze at a construction site in central London. London Fire Brigade confirmed 10 fire engines and 50 firefighters were called to the fire at 12.45pm on Great Portland Street, near Oxford Street and the headquarters of the BBC. "Some cylinders can explode when exposed to heat," LFB wrote in a tweet.

  • DIY Fecal Transplants are Dangerous and Could Transmit HIV, Doctors Warn
    News
    Newsweek

    DIY Fecal Transplants are Dangerous and Could Transmit HIV, Doctors Warn

    Toilet paper being shared at the Glastonbury Festival in 2004. Dr. Mark Mattar, a gastroenterologist at MedStar Georgetown University Hospital, explained to Newsweek the Food and Drug Administration (FDA) only allows fecal transplants to be performed in patients with a C. difficile infection.

  • Poodle Brings New York Subway to a Standstill
    News
    Newsweek

    Poodle Brings New York Subway to a Standstill

    A poodle named Dakota has brought New York City to a standstill. The pet sped into a York Street station entrance and made its way onto the northbound F train tracks, according to officer George Tsourovakas. A poodle, like the dog pictured here, has brought chaos to the New York City subway.

  • Ancient Rock Art Depicting Marine Animals Sheds Light On Hunter-Gathers’ Strategies
    News
    Newsweek

    Ancient Rock Art Depicting Marine Animals Sheds Light On Hunter-Gathers’ Strategies

    It’s well-known that hunter-gatherers in many regions of the world spent much of their time hunting marine animals. The art, which is described in a study published in the journal Antiquity, was found in the Atacama Desert coast in Chile and provides “one of the most spectacular and expressive representations of ancient marine hunting and maritime traditions,” study author Benjamin Ballester, a doctoral student at Pantheon-Sorbonne University in Paris, wrote.

  • First UK live music census warns of threats to small venues
    News
    The Independent

    First UK live music census warns of threats to small venues

    Britain’s small venues are struggling due to increased business rates and property development, according to the first ever live UK music census. The survey by universities of Edinbury, Newcastle, and Turku in Finland, suggested a third of small venues had issues with property development and complaints over noise pollution - which often arise when tenants move into new buildings next to established music venues. Of almost 200 small music venues (with a capacity of up to 350 people) surveyed, 33 per cent reported that increases in business rates had an “extreme, strong or moderate” impact on their existence in the past 12 months.

  • Irish start-ups see year of record investment
    Sky video

    Irish start-ups see year of record investment

    Sky’s Angela Barnes is in Dublin to find out how smaller companies are faring side by side with the likes of Google and Facebook.

  • Pakistan child killer handed four death sentences
    News
    AFP

    Pakistan child killer handed four death sentences

    A Pakistani court Saturday handed four death sentences to a man charged with raping and murdering a six-year-old girl, in a case that shocked the country and sparked major riots in his home district.

  • Tulip mania: the classic story of a Dutch financial bubble is mostly wrong
    News
    The Independent

    Tulip mania: the classic story of a Dutch financial bubble is mostly wrong

    All these were compared by contemporaries to “tulip mania”, the Dutch financial craze for tulip bulbs in the 1630s. Bitcoin, according some sceptics, is “tulip mania 2.0”. It certainly makes an exciting story, one that has become a byword for insanity in the markets.

  • Solange named as Harvard University's Foundation Artist of the Year
    News
    The Independent

    Solange named as Harvard University's Foundation Artist of the Year

    Solange has been announced as Harvard University’s Foundation Artist of the Year 2018. The annual honouree is picked by students and faculty members of the Harvard Foundation for Intercultural and Race Relations at Harvard University. Past honourees include Queen Latifah, Shakira, Viola Davis, Salma Hayek, John Legend and Jackie Chan.

  • News
    Business Insider UK

    Merkel calls for progress on common EU asylum system

    BERLIN (AP) — German Chancellor Angela Merkel wants the European Union to make progress on a common asylum system, warning that member states who expect financial support from the bloc need to show solidarity when it comes to migrants too.

  • Mikaela Shiffrin gave a great lesson on embracing failure at the Olympics after missing out on a medal in her best event
    News
    Business Insider UK

    Mikaela Shiffrin gave a great lesson on embracing failure at the Olympics after missing out on a medal in her best event

    Mikaela Shiffrin came into the Olympics with a shot to win five medals. The chances of a historic Olympics came to an end when Shiffrin finished fourth in her best event, the slalom, and withdrew from the Super-G. Shiffrin explained on social media that she wouldn't change a thing, saying she is just grateful to be a part of the Olympics and noting that there are things about competing that are more important than winning medals.

  • News
    Business Insider UK

    Chinese giant pandas unveiled to public in Finland

    HELSINKI (AP) — Two giant pandas on loan from China have been unveiled at a zoo in central Finland and they have frolicked, galloped, climbed trees and played in the snow after a month-long quarantine.

  • Florida shooting suspect Nikolas Cruz was member of school’s rifle team and described as a ‘very good shot’ 
    News
    The Telegraph

    Florida shooting suspect Nikolas Cruz was member of school’s rifle team and described as a ‘very good shot’ 

    Florida shooting suspect Nikolas Cruz was member of school’s rifle team and described as a ‘very good shot’ 

  • News
    Business Insider UK

    Rodchenkov to AP: Russian footballers immune from drug bans

    Russian doping whistleblower Grigory Rodchenkov claims he helped soccer players in the country to avoid being caught doping after he followed government orders to ensure cheating was covered up. The former Russian anti-doping laboratory director told The Associated Press in response to questions through his lawyer that an instruction to avoid scandal came from Vitaly Mutko. Mutko is the former Russian sports minister who serves as deputy prime minster despite being at the center of the doping deception controversy exposed by Rodchenkov.

  • Glastonbury Festival plans plastic bottle ban from next year, organisers say
    News
    Evening Standard

    Glastonbury Festival plans plastic bottle ban from next year, organisers say

    Glastonbury Festival is working to ban plastic bottles from next year, co-organiser Emily Eavis has said. The daughter of founder Michael Eavis labelled it a "big project" for the 2019 event which will be the first since last summer, with no festival planned for this year. "We're working on banning plastic bottles... which is an enormous project and it's taking a lot of time to tackle it with all the different people we work with.

  • Revealed: rightwing groups plot to ditch EU safety standards on food and drugs
    News
    The Guardian

    Revealed: rightwing groups plot to ditch EU safety standards on food and drugs

    Greenpeace’s Doug Parr says the self-styled “shadow trade talks” are “secretive”. An unprecedented drive to lobby ministers to ditch strict EU safety standards in order to secure a US trade deal is being drawn up by a transatlantic group of conservative thinktanks, it has emerged. Organisers of the self-styled “shadow trade talks”, which are set to include 10 leading rightwing and libertarian groups from the UK and the US, are preparing to push their “ideal free trade agreement” that would allow the import of US meats, drugs and chemicals banned in Britain.

  • Public accounts 'clearly show' Assad's continuing use of chemical weapons: McMaster
    News
    Business Insider UK

    Public accounts 'clearly show' Assad's continuing use of chemical weapons: McMaster

    U.S. National Security Adviser H.R. McMaster said on Saturday that public reports showed that Syrian President Bashar al-Assad was using chemical weapons and added that it was time for the international community to hold the government accountable. "Public accounts and photos clearly show that Assad's chemical weapons use is continuing," McMaster said while speaking at the Munich Security Conference.

  • Man and teenage boy killed in West Sussex level-crossing crash
    News
    The Guardian

    Man and teenage boy killed in West Sussex level-crossing crash

    A 15-year-old boy and a 72-year-old man were killed when a train collided with a car in Horsham, West Sussex. Officers were called at 8.47am on Saturday to Barns Green level crossing in Horsham following reports of a collision, the British Transport Police (BTP) said. DI Brett Walker, from BTP, said: “This is an extremely tragic incident and our thoughts are with the family at this difficult time.

  • Can we trust Wikipedia? 1.4 billion people can't be wrong
    News
    The Independent

    Can we trust Wikipedia? 1.4 billion people can't be wrong

    Wikipedia began life in 2001, set up by early internet entrepreneurs/evangelists Jimmy Wales and Larry Sanger, with the latter coining the portmanteau name by smashing the traditional encyclopedia up against the name given to collaboratively-modified websites, wiki.

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes