Marching on QinetiQ new MoD tie-up
The Ministry of Defence today signed a £998 million contract for QinetiQ to test its helicopters, weapons and vehicles for five years.
The third tranche of a 25-year deal is worth almost £50 million more than the last five-year contract, whose value was £951 million. The first deal, struck in 2003, was worth £964 million.
Shares in QinetiQ, formerly the Government’s military gadget maker, shot up 7.9p to 195.9p. The latest contract also sees the firm manage 17 MoD-owned sites, look after their equipment, land and buildings, and provide training and support. QinetiQ says that since the agreement was first signed, it has “more than doubled output under the contract, [and] is on track to achieve £700 million savings for the MOD” over the deal’s lifetime.
Chief executive Leo Quinn, said: “This agreement is recognition of the expertise of our people and their ability to consistently deliver support to Britain’s armed forces. We are committed to continuing to invest in these capabilities to provide this vital service to the MoD in support of the front line.”
- 1 Stolen Instagram photo sells for $90,000
- 2 Before you complain about your GP, this is what you need to know about actually doing the job
- 4 'Don't blame all men for rape' campaign backfires spectacularly
- 5 Charlie Charlie Challenge explained: not a Mexican demon being summoned — it's gravity
UK's biggest male rape charity Survivors UK has state funding slashed to zero despite 120% rise in men reporting sexual violence and seeking help
Priest warns pupils the 'Charlie Charlie Challenge' is 'demonic activity'
'Don't blame all men for rape' campaign backfires spectacularly
Iran launches anti-Isis cartoon competition 'to expose true nature of Islamic State'
Fifa corruption arrests: Sepp Blatter 'quite relaxed' and confident he is 'not involved'
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...