Babcock loses out on government contracts

9th Jun 2014 17:42

Engineering contractor Babcock on Monday said it was no longer in the running for government contracts to maintain and develop defence property.The company said it will not be awarded any of the work following talks with the Defence Infrastructure Organisation (DIO), losing out on about £4.35bn."Babcock has discussed the situation with the DIO and has concluded that Babcock will not be awarded any of the contractsforming part of Tranche 2," the company said in a statement. The contracts include £1.8bn worth of work in north Wales, the Midlands and East Anglia and a combined £2.55bn worth of work in the south-east and south-west.RD