Investors Chronicle, November 29th, 2002
Babcocks transformation from an engineer into a services group has been a painfully slow process. But the company at last seems to be within reach of its goal, with the Chronos Richardson baggage handling business likely to be sold"within weeks" and the remaining materials handling business"by the end of the financial year". That will leave Babcock with a technical services arm - centred on the Rosyth shipyard - and a training and support division, which was bolstered last year by the GBP61m acquisition of Huntings former defence business. Rosyths workload is secure out to 2004 thanks, in par...
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