Babcock International Group PLC

M&A Activity • Sep 12, 2019

National Storage Mechanism | Additional information

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RNS Number : 0436M

Babcock International Group PLC

12 September 2019

12 September 2019

Babcock International Group PLC (Babcock or the Company) 

Babcock selected as preferred bidder for UK naval frigate programme

Babcock Team 31, led by Babcock, the Aerospace and Defence Company, has been selected by the UK Ministry of Defence as preferred bidder to deliver its newest fleet of warships. The Type 31 general-purpose frigate programme will provide the UK with a fleet of five ships, at an average production cost of £250 million per ship.

Following a comprehensive competitive process, the UK Government has chosen Babcock's Arrowhead 140, a capable, adaptable and technology-enabled global frigate.

Work on the fleet of five ships will begin immediately following formal contract award later this financial year, with detailed design work to start now and manufacture commencing in 2021 and concluding in 2027.

Archie Bethel, CEO Babcock said:

"Driven by innovation and backed by experience and heritage, Arrowhead 140 is a modern warship that will meet the maritime threats of today and tomorrow, with British ingenuity and engineering at its core. It provides a flexible, adaptable platform that delivers value for money and supports the UK's National Shipbuilding Strategy.

"Arrowhead 140 will offer the Royal Navy a new class of ship with a proven ability to deliver a range of peacekeeping, humanitarian and warfighting capabilities whilst offering communities and supply chains throughout the UK a wide range of economic and employment opportunities."

The ships will be assembled at Babcock's Rosyth facility, and involve supply chains throughout the UK, in line with the UK's shipbuilding strategy. Babcock Team 31 will now enter into a period of detailed discussions with the MOD and supply chain, prior to formal contract award expected later this year.

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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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