Babcock International wins £800 million to manage London Fire Brigade fleet
Babcock International has scored its second major contract win in two days, scooping a deal worth about £800 million to manage the London Fire Brigade’s 500 vehicles until 2035.
However, US sources have told the Evening Standard that Babcock could face a legal challenge to the £7 billion deal to clean up a dozen of the UK’s historic nuclear sites that the group surprisingly won yesterday.
The incumbent contractor on the Magnox deal, Utah-based EnergySolutions, and its new partner, San Francisco’s Bechtel, were heavy favourites and are now “evaluating the options”, which include judicial review.
A source close to the other two losing bidders said the competition was so tight — and Babcock’s partner Fluor so inexperienced in UK nuclear work — that they could join forces with Bechtel in a legal challenge.
Investors remain impressed at Babcock’s extraordinary start to the week, with shares up 3.49 per cent today to 1394p. The London Fire Brigade deal will see Babcock look after 50,000 pieces of equipment and invest in operational premises in Ruislip and a new site in Greenwich.
This makes up for some of the ground Babcock lost last week, when it asked investors for £1.1 billion through a rights issue to buy search-and-helicopters group Avincis.
This news resulted in Babcock’s worst day of trading in three years as shares slumped 6.7 per cent.
- 3 Russian girl takes her own life after parents find pornography on her computer
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Kim Kardashian on Bruce Jenner's 'story': 'We support him no matter what, and I think when the time is right, he'll talk'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Russian girl takes her own life after parents find pornography on her computer
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...