DML was the company which owns and manages Devonport Royal Dockyard ,
the largest dockyard in Western Europe. DML was owned by Babcock
International Group who purchased it from previous owners; KBR (51%),
DML, then owned by
Brown and Root and
The DML consortium changed in 1987, with B&R taking 29.9%, Balfour
Beaty joining with 29.9%, the
Weir Group joining with 29.9% and
Barclays de Zoete Wedd taking 10.3%.
In June 1993 DML was awarded the contract for refitting of Royal Navy nuclear submarines. This was the result of a two-year "highly politicised battle" between DML and the management of Rosyth Dockyard in Scotland. The Rosyth dockyard already had nuclear refitting facilities under construction when, in 1993, DML made an unsolicited bid to take over the work which in future would only be awarded to one yard. For the next two years the two dockyards made "tit-for-tat" claims regarding the suitability of their own facilities compared to their competitor.
In 1994 GEC acquired VSEL and withdrew it from the DML consortium. At the urging of the MoD, Brown & Root took 51% control of DML. In February 1993 DML purchased the Devonport yard for GB£40.3 million.
In 1998 Brown & Root's parent,
Only two companies made bids by the closing date, these were the Carlyle investment Group and Babcock International.
Babcock was announced as the successful bidder for Devonport in a
deal that was worth 350 million pounds sterling and would secure them
a 100% stake in the company. Babcock international announced that the
DML Group would then become part of Babcock Marine Services, a new
sector (of which
The deal was rubber stamped by the United Kingdom Ministry of Defence at the end of June 2007, following this move the company was rebranded as Babcock Marine, part of Babcock International Group .