Wood Group (John)PLC Disposal of AFW's North American nuclear operations
November 06 2017 - 1:00AM
UK Regulatory
TIDMWG.
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
END
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