Latest news from Heavy Lift & Project Forwarding International Magazine

Wood Group buys Amec Foster Wheeler

March 15 - UK-headquartered energy services company Wood Group is set to acquire Amec Foster Wheeler - a UK-based consultancy and project management company - in an all-share takeover deal worth approximately GBP2.2 billion (USD2.7 billion).

Under the terms of the agreement, Amec Foster Wheeler shareholders will receive 0.75 new Wood Group shares for each Amec Foster Wheeler share. This will result in Amec Foster Wheeler shareholders owning approximately 44 percent of the share capital of the combined group.

Robin Watson and David Kemp, ceo and cfo of Wood Group respectively, will continue in their roles within the combined group, while four members of the Amec Foster Wheeler board will join the new board.

Ian Marchant, chairman of Wood Group, said the "transformational transaction" would extend the scale and scope of its services, broaden its end market, geographic and customer exposure as well as facilitate further development of its technology-enabled solutions.

"The combination will create an asset-light, largely reimbursable business of greater scale and enhanced capability, diversified across the oil and gas, chemicals, renewables, environment and infrastructure and mining segments."

www.woodgroup.com

www.amecfw.com

Heavy Lift | News

Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 198
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 205
Big Bend Channel expanded thumbnail image

Big Bend Channel expanded

April 22 - Port Tampa Bay in Florida has completed the USD63 million expansion of the Big Bend Channel, one year ahead of schedule.
Views: 269
Penman joins Malin React thumbnail image

Penman joins Malin React

April 22 - Malin Group has named Graham Penman as business unit manager of its recently launched Malin React division.
Views: 1173

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.