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Keep up to dateEngineering giant Babcock, whose order book is up £1bn, has signed a memorandum of understanding with the Cabinet Office agreeing to savings on existing and future government contracts.
Revenue close to £3bn but defence firm only records 5% organic growth while total debt exceeds £700m
Support services group’s interim statement also shows strong cash generation
Only 320 jobs out of 1,200 will be saved when Babcock takes over the bulk of Jarvis’ rail renewal work, Building understands
Firm set up in 1889 to be snapped up by gas supplier Regent run by long-time investor Deep Valecha
Firm has brought in commercial director and head of defence business
Proposals would replace 1970s office block with a five-storey laboratory building close to the city centre
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