(Sharecast News) - Aerospace and defence company Babcock has scored a multimillion-pound contract extension to manufacture a further 18 tactical missile tube assemblies for General Dynamics Electric Boat.
Babcock said on Tuesday that the deal was part of the Common Missile Compartment project for the UK Dreadnought class and US Columbia class submarine programmes, and stated it would support more than 200 advanced manufacturing jobs at its Rosyth and Bristol facilities.
The FTSE 250-listed firm the "highly specialised, internationally significant work" reinforced its position as a critical supplier of missile tube assemblies - utilising its digital manufacturing skills and expertise to support future deterrent submarine programmes for both the UK and US Navy.
Since 2014, Babcock has successfully secured competitive contracts with General Dynamics Electric Boat to manufacture 57 MTAs.
John Howie, chief executive of Babcock's marine unit, said: "We're delighted to be awarded this contract extension, which is testament to the skills and capability of our workforce, as well as the quality of product we are delivering."
As of 0920 BST, Babcock shares were up 1.72% at 389.50p.
Babcock (BAB)14 Apr 2024 13:31
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