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11 Facts About Babcock International
Babcock International is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.
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In 2000, Babcock International took the strategic decision to move away from manufacturing towards maintaining and supporting the critical equipment and infrastructure of customers.
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In September 2009, Babcock International acquired the UK Atomic Energy Authority's commercial arm, UKAEA Ltd; this acquisition extended Babcock International's existing nuclear skills, bringing additional expertise in waste categorisation, decommissioning of high hazard facilities, encapsulation and storage of hazardous materials and transportation of waste.
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In November 2014, Babcock International was named as the British Government's preferred buyer of the land repair and maintenance business of the Defence Support Group, an executive agency and trading fund of the Ministry of Defence.
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In May 2012, Babcock International was awarded a £15m contract by the Ministry of Defence to support the design of the United Kingdom's next generation nuclear-armed submarines.
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In September 2019, it was announced that Babcock International had been selected as the preferred bidder to build the new fleet of five Type 31 frigates for the Royal Navy.
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Merger proposals had been unanimously rejected by Babcock International's board, having reportedly found the proposal to lack strategic merit.
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At multiple occasions in 2019 and early 2020, Babcock International issued profit warnings, which the firm attributed to a downturn in government orders and issues with its aviation division, necessitating a £85m writedown on leases for its North Sea helicopter fleet.
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