Wood Group completes acquisition of Amec Foster Wheeler
The new combined entity, with revenues of $11 billion, has operations in more than 60 countries with around 55,000 people.
Scottish-based Wood Group has completed the acquisition of Amec Foster Wheeler, creating a new global consulting engineering firm with revenues of $11 billion. The new combined entity has operations in more than 60 countries with around 55,000 people, including 24,000 in the Americas.
“This transformational acquisition creates a global leader in the delivery of project, engineering and technical services to energy and industrial markets,” said Robin Watson, Wood Group CEO, in a company release.
“We expect to deliver significant cost synergies and incremental revenue synergies in a less cyclical business which retains a predominantly reimbursable, asset light model with a balanced risk appetite.”