BookRags.com Literature Guides Literature
Guides		 Criticism & Essays Criticism &
Essays		 Questions & Answers Questions &
Answers		 Lesson Plans Lesson
Plans		 My Bibliography Periodic Table U.S. Presidents Shakespeare Sonnet Shake-Up
Research Anything:        
History | Encyclopedias | Films | News | Create a Bibliography | More... Login | Register | Help
Not What You Meant?  There are 33 definitions for Babcock.

Babcock International Group

 Print-Friendly
About 4 pages (1,333 words)

Bookmark and Share Questions on this topic? Just ask!
Babcock International Group plc
Type Public LSE: BAB
Founded 1 February 1989 (as plc)
Headquarters London, UK
Industry Support services
Revenue £836.7 million (31st March 2006)
Operating income £46.6 million (31st March 2006)
Net income £29.9 million (31st March 2006)
Employees 8,763 (31st March 2006)
Website www.babcock.co.uk/

Babcock International Group PLC (LSE: BAB) is a British based support services company specialising in mobilising its engineering expertise to assist its customers in managing complex assets and infrastructure in safety- and mission- critical environments. Although the company has civil contracts, its main business is with public bodies, particularly the UK Ministry of Defence and Network Rail. The company has six UK operating divisions and overseas operations based in Africa and North America.

History

Babcock International traces its history back to 1891 when the American Babcock & Wilcox Company established Babcock & Wilcox Limited as its United Kingdom subsidiary. [1] Babcock & Wilcox Ltd's early business centred around the manufacture of boilers. This expanded as a result of the two world wars and the supply of defence equipment became another major business area. In the 1960s the company became involved in the development of the UK's nuclear power stations. In 1979 Babcock & Wilcox Ltd was renamed Babcock International Ltd. This company was floated on the stock exchange in 1982, becoming Babcock International PLC. In 1987 Babcock merged with FKI Electricals plc, another engineering company to form FKI Babcock PLC. In February 1989 FKI Babcock PLC demerged to form Babcock International Group PLC and FKI plc. [2]. In 2000 Babcock took the strategic decision to move away from manufacturing towards applying its engineering heritage and expertise to maintain and support the critical equipment and infrastructure of customers for whom outsourcing was seen as an attractive option. One of the early expressions of this strategy was in 2002 Babcock was reclassified on the London Stock Exchange from Engineering to Support Services. More significant were the gradual series of acquisitions, coupled with measures to enhance organic performance over the years following the 2000 decision. These include: 19 June 2002 - acquired Service Group International Ltd, support services in defence and civil markets 18 June 2004 - bid for Peterhouse Group plc declared unconditional as over 50% of shares held 30 September 2004 - acquired Turner and Partners, professional services in telecoms industry 9 May 2006 - acquired Alstec Group Ltd, nuclear and airport services operator 13 June 2006 - acquired high voltage power lines and mobile telecoms business of ABB South Africa (Pty) 10 May 2007 - 19 million new shares place to fund acquisitions 28 June 2007 - acquired Devonport Management Limited, operators of Devonport Dockyard nuclear submarine and surface vessel facilities 25 July 2007 - announcement that the Aircraft Carrier Alliance, of which Babcock International is a part, would carry out final assembly of two new aircraft carriers for the Royal Navy at their Rosyth Dockyard 7 August 2007 - acceptances for acqusition of International Nuclear Solutions PLC reached 58.9% of issued share capital

References

  1. ^ "Records of Babcock International Group plc." Glasgow University Archive Services
  2. ^ "Records of Babcock Industrial & Electrical Products Ltd" Glasgow University Archive Services

View More Summaries on Babcock International Group
 
View all | View only answered questions | View only unanswered questions
Ask any question on Babcock International Group and get it answered FAST!
Answer questions in BookRags Q&A and earn points toward
discounted or even FREE Study Guides and other BookRags products!
Learn more about BookRags Q&A
Copyrights
Babcock International Group from Wíkipedia. ©2006 by Wíkipedia. Licensed under the GNU Free Documentation License. View a list of authors or edit this article.

Article Navigation
Join BookRagslearn moreJoin BookRags
About BookRags | Customer Service | Report an Error | Terms of Use | Privacy Policy |