CIM CIMIC Group Limited

By Adam Clark

U.K. engineering company Babcock International Group PLC (BAB.LN) said Monday that its Naval Ship Management joint venture has been awarded a 1.5 billion-Australian dollar ($1.1 billion) contract by the Australian government.

The contract is for an initial five years, with the expectation of two further five-year extensions. Naval Ship Management will provide support services to the Australian navy's flagship Canberra Class Landing Helicopter Docks and their landing craft from July 2019.

Babcock holds an equal stake in Naval Ship Management with Australia's UGL Ltd, owned by CIMIC Group Ltd. (CIM.AU).

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

December 03, 2018 02:29 ET (07:29 GMT)

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