John Wood Group PLC (“Wood”)
Disposal of Amec
Foster Wheeler’s North American nuclear operations
Further to Amec Foster Wheeler’s announcement on 30 June 2017, Wood has today entered into an
agreement to sell its North American nuclear operations to
Kinectrics Inc. Cash consideration for the transaction is
approximately C$10m after adjustments
for defined benefit pension related debt and subject to closing
adjustments.
The business being sold consists of Amec Foster Wheeler’s
nuclear operations in Canada and
the US together with a small operation in Romania. The
transaction in respect of Canadian and US operations is expected to
close in the fourth quarter of 2017 subject to competition
clearance in Canada. The Romanian disposal is expected to
close early in 2018, subject to regulatory approval in Romania.
Note to Editors:
About Wood:
Wood is a global leader in the delivery of project, engineering
and technical services to energy and industrial markets. We operate
in more than 60 countries, employing around 55,000 people, with
revenues of over $11 billion. We
provide performance-driven solutions throughout the asset
life-cycle, from concept to decommissioning across a broad range of
industrial markets including the upstream, midstream and downstream
oil & gas, chemicals, environment and infrastructure, power
& process, clean energy, mining and general industrial sectors.
We strive to be the best technical services company to work with,
work for and invest in. http://www.woodplc.com/
About
Kinectrics:
Kinectrics is an integrated lifecycle management services
company providing testing, inspection, certification and
engineering consulting for the electric power generation,
transmission and distribution markets worldwide. Kinectrics helps
keep the electric power industry’s construction and refurbishment
projects and existing operations running smoothly and to
specification through its independent laboratory and testing
facilities, a diverse fleet of field inspection equipment and an
award-winning team of over 400 engineers and technical experts.
From initial type testing for installation and compliance to
operational inspection and maintenance services, Kinectrics
collaborates closely with customers to ensure that utility assets
perform safely, reliably, and efficiently throughout their entire
lifecycle. www.kinectrics.com
Enquiries:
Wood
Andrew Rose, Head of Investor
Relations
Tel: +44 (0)1224 532716
Brunswick (Public Relations Adviser to Wood)
Patrick Handley
Tel: +44 (0)20 7404 5959
Charles
Pemberton
John Wood Group PLC LEI:
549300PLYY6I10B6S323